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- Ripple and the SEC jointly filed a motion seeking an indicative ruling to advance a potential settlement agreement in their long-standing case.
- Ripple’s request to dissolve a prior injunction remains a central issue delaying the finalization of a complete legal resolution.
- A reduced fine and withdrawal of appeals are likely to follow if the court grants the motion and approves the proposed agreement.
Ripple’s ongoing legal battle with the U.S. Securities and Exchange Commission is progressing toward a possible conclusion, with new developments suggesting a final resolution may arrive within weeks. The recent legal documents filed by both parties indicate a collective effort toward reaching an agreement, but things are dependent on the decision soon to be made by the district court.
Ripple and the SEC have jointly filed a motion for an indicative ruling under Rule 62.1. The motion follows the court’s earlier denial and demonstrates a renewed attempt to resolve the matter outside of further litigation. Both parties submitted a supplemental letter to reinforce their request, showing alignment on the proposed legal path forward.
Attorney Observes Progress and Remaining Obstacles
Attorney Bill Morgan, who has closely followed the case, commented that the lawsuit is advancing through critical phases. He emphasized that the timing of a ruling from Judge Analisa Torres will likely determine whether the case settles shortly. Morgan added that both Ripple and the SEC appear committed to finalizing a resolution but pointed to one significant sticking point.
Morgan revealed that Ripple’s insistence on dissolving an existing injunction is the primary cause of the delay. He stated that although the SEC is open to settlement, Ripple is prioritizing the removal of legal restrictions that could affect its future operations and fundraising. Morgan explained that Ripple wants to minimize legal risks in its institutional XRP sales.
Settlement Timeline Hinges on Court’s Decision
The legal teams signed a settlement agreement, with Ripple signing on April 23 and the SEC on May 8. They also requested a pause in the appeal and cross-appeal process, which was granted until June 16. A second joint motion was filed on June 12, followed by a status report on June 16. The final steps now depend on whether the court issues the indicative ruling requested.
If the indicative ruling is granted, Ripple and the SEC plan to seek a limited remand. This would allow them to formally present agreed-upon terms, including dissolving the injunction and paying a reduced fine of $50 million. The process would conclude with a motion to dismiss the ongoing appeals.
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