币界网报道：A U.S. judge has denied Ripple Labs' request to lift an injunction on XRP sales to institutional investors, dealing a setback in its ongoing legal battle with the SEC. The ruling maintains restrictions imposed last July after the SEC alleged Ripple conducted unregistered securities offerings through XRP sales. While Judge Analisa Torres previously ruled programmatic XRP sales didn't violate securities laws, she found institutional sales did. Ripple had argued the injunction created confusion in the crypto industry and wasn't necessary since the company now complies with securities regulations. The SEC opposed lifting the ban, citing risks of recurring violations. The decision comes as Ripple prepares for an April trial to determine potential penalties for past violations. Legal experts note this preserves the SEC's enforcement position while the broader question of whether XRP constitutes a security remains unresolved in higher courts.