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The U.S. Securities and Exchange Commission (SEC) has officially filed an objection against an external emergency intervention attempt in the Ripple 
$2 case. Financial analyst Justin W. Keener’s application to submit documents claiming definitive evidence in favor of Ripple was deemed unauthorized by the court. The SEC asserted that Keener’s attempt lacked legal grounding and that the court in question did not have the authority to accept such a request. Consequently, the court rejected the intervention request.
Authority Debate in the Court Process
In a detailed legal explanation against Keener’s emergency request filed on April 3, 2025, the SEC emphasized that the case has now been transferred to the Second Circuit Court of Appeals, meaning the lower court is no longer an open jurisdiction for intervention. The commission bolstered its argument by referencing past case examples, such as New York v. Department of Homeland Security.
Keener’s justification for the intervention, claiming to defend the interests and freedoms of the American public, found no support in court. The SEC clearly stated that evidence from third parties cannot be considered without the judge’s permission. The commission also reminded that similar requests have been dismissed by the court in the past, effectively blocking external intervention in Ripple’s defense process.
Ripple’s Defense and New Partnership Move
The SEC affirmed that documents could be submitted directly by the parties involved and that Ripple could freely maintain its defense stance. This was interpreted as a sign that the official process in the case has reached its final stages. The lack of clear details regarding Keener’s documents and the uncertainty about what the material would prove in the context of the case led to this intervention attempt being considered weak. Some experts suggested that the evidence claimed by Keener could relate to physical investment contracts.
Meanwhile, the Ripple side announced a significant development related to the case process. The company’s CEO, Brad Garlinghouse, declared that the XRP case has officially come to an end. The SEC’s decision to abandon its appeal created a positive atmosphere in the cryptocurrency market. Alongside this development, Ripple also signed a new partnership, reportedly working with global prime broker Hidden Road under a $1.25 billion agreement.
This agreement indicates that Ripple is preparing to adopt a more aggressive growth strategy in the international arena. The significant clarification of the legal process paves the way for the company to manage its operations more freely. Following the SEC’s retreat, analysts suggest that Ripple has gained new opportunities to strengthen its position against regulations. The company’s new direction in the industry could reshape competitive dynamics as well.
