Ripple and the SEC urge Judge Torres to approve the settlement agreement to end the Ripple (XRP) case.

Gate News bot, on June 17, Ripple's legal team officially filed a petition with Judge Analisa Torres for the Southern District of New York, requesting acceptance of a joint motion with the Securities and Exchange Commission (SEC) to resolve Ripple's long-standing dispute with the regulator over the sale of XRP. The letter, filed by Ripple Labs Inc., expresses full support for the joint motion and further explains the implications of the settlement agreement.

The letter highlights that neither the SEC nor Ripple has asked the court to amend its summary judgment order.

The document emphasizes that regardless of any settlement agreement reached, previous judgments still hold binding and persuasive power over other courts.

The document clarifies that even if the injunction is lifted, Ripple will not be exempt from its securities law obligations, as it is still subject to the same regulations as all other market participants. The relief measures proposed in the joint motion include reducing economic penalties and lowering the risk of appeal, which both parties believe represents a compromise that will bring an end to this protracted litigation.

Ripple asserts that the settlement protocol will resolve the pending issues of XRP without altering the substantive rulings of the court, thereby saving judicial resources while ensuring Ripple takes responsibility.