A surprise filing in the high-profile XRP lawsuit has stirred the crypto community once again—but legal experts say it’s more noise than substance. As Ripple inches closer to a resolution in its battle with the U.S. Securities and Exchange Commission (SEC), a new claim of “decisive evidence” has suddenly entered the conversation, only to be dismissed by former SEC lawyer Marc Fagel as little more than “spam.”
It’s not really that. It’s a filing by someone not authorized to appear in the case. It’s the equivalent of spam getting through the court’s filter, and will be deleted.
— Marc Fagel (@Marc_Fagel) April 4, 2025
Filing Fuels Speculation, But Experts Say It Won’t Matter
The buzz started when Justin W. Keener, a previously penalized individual in unrelated SEC matters, submitted a filing claiming to have crucial evidence that could benefit Ripple and the broader American public. However, the filing lacked details—and Keener holds no legal standing in the XRP case.
Legal experts, including Fagel, swiftly shut down the hype. According to him, Judge Analisa Torres is unlikely to revisit her key ruling that XRP sales by Ripple do not constitute securities in the secondary market. “The court’s decision is settled. We’re now in the remedies phase,” Fagel clarified.
Related: Ripple vs. SEC Takes a Twist: ‘Odd Filing’ Fuels XRP Price Breakout Attempt
Core Ruling Remains Intact
Judge Torres’ landmark ruling in 2023 provided Ripple with a partial win, declaring that XRP is not a security when sold on exchanges. This limited victory is now being followed by negotiations over penalties, not a reversal of the verdict.
Keener’s filing, despite drawing attention on social media, isn’t expected to affect this phase of the legal process. The court generally disregards unsolicited third-party submissions—especially from those with no direct involvement.
XRP Price Reacts Positively
Even with the filing dismissed as irrelevant, optimism around the lawsuit’s nearing conclusion appears to be driving XRP’s momentum. The token recently climbed nearly 5%, trading around $2.15. If XRP maintains support above $2, analysts forecast a potential rally toward the $2.50–$3.00 zone. However, a drop below support could send it sliding to $1.20.
As the legal dust begins to settle, Ripple’s focus—and investor attention—now turns to final penalties and what the resolution could mean for XRP’s long-term legitimacy.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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