Ripple vs SEC Showdown Escalates: XRP Tanks 7% as Legal Expert Shreds Latest Court Filing

The crypto courtroom drama you can''t look away from just got juicier.

XRP''s price took a 7% nosedive today as a prominent legal analyst dismissed the SEC''s latest filing in the ongoing Ripple lawsuit as ''legally flimsy''—proving once again that regulators would rather fight innovation than understand it.

When lawsuits move markets more than fundamentals...

Here''s the breakdown:

- The SEC''s new motion gets torched by legal experts within hours of filing
- XRP holders suffer whiplash as the token drops 7% on the news
- Crypto Twitter erupts with fresh conspiracy theories (some involving Gary Gensler''s poker face)

Meanwhile, Wall Street still thinks ''blockchain'' is something you buy at Home Depot. The case continues—your move, SEC.

In the latest chapter of the ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC), Ripple has filed a new letter backing a joint request for an indicative ruling from the court.

This means Ripple and the SEC are asking the judge to give a signal that they can MOVE forward with a settlement while keeping the original court ruling in place. Ripple made it clear they are not asking the court to change the earlier judgment.

In the letter, Ripple said that even if the court removes the specific order requiring them to “obey the law,” the company will still follow all securities laws like any other business. Removing the order wouldn’t excuse Ripple from its legal responsibilities,  the same rules WOULD continue to apply to them and to everyone else in the market.

However, one former SEC lawyer commented that the new letter doesn’t really add anything new to what’s already been submitted. According to Marc Fagel, it feels more like a response to some skeptical voices from the crypto community on social media.

I don''t see this letter adding anything substantive to what''s been submitted; it reads more like "some lawyers on Crypto Twitter are dubious of our joint submission so we just want to be a little more emphatic."

Meanwhile, the xrp price has taken a hit amid the ongoing legal drama. After reaching a daily high of $2.31, the token dropped more than 7% and is now trading at around $2.15. Since May 29, XRP has faced five failed attempts to break through the $2.27–$2.30 resistance zone, with the latest rejection happening on June 16.

Investors and the crypto community are now waiting to see if the court will respond to the joint request and whether a settlement could finally bring this years-long case to a close.