US Securities and Exchange Commission (SEC) Another new development took place in the ongoing case between the two.
District Court Judge Analisa Torres said that the Ripple company XRP announced its decision on the application made by individuals who own the tokens.
Torres stated that the participants in question could not be involved in the ongoing litigation, actually ending the attempt by XRP investors to make their voices heard in the case.
Two New Decisions for XRP Investors
XRP investors attempted a class action lawsuit to intervene as defendants and defend Ripple, but Torres disagreed.
Torres stressed that the involvement of XRP investors in the lawsuit could make it difficult for the SEC to decide against them. In addition, Torres underlined that the lawsuit that Ripple and XRP investors expect to end will also be prolonged with such a development, and he refused to take a quick decision.
Despite this, the judge stressed that XRP investors can attend the hearing known as amicus curiae.
The hearing is generally used to obtain advice and provide information. Although even this development shows that XRP investors have achieved something, the majority of XRP investors currently view this decision as negative.
Thousands of XRP investors, who stated that their actions against the company, for which the SEC has filed $1.3 billion in damages, have shaken the investors it is obliged to protect, may be able to make their voices heard in the new lawsuit or hearing.