The Ripple vs. SEC lawsuit has been ongoing for four and a half years and is approaching a significant date—June 16. This is expected to be judgment day.
Recent Attempts to End the Legal Dispute
In early May, Ripple and the SEC filed a joint motion seeking Judge Torres’s indicative ruling to reduce Ripple’s $125 million penalty to $50 million and lift the injunction on institutional XRP sales. However, on May 15, the judge dismissed the motion as procedurally improper, citing failures to invoke the correct federal rule and demonstrate "exceptional circumstances". Stuart Alderoty, Ripple’s Chief Legal Officer, confirmed that the dismissal did not undermine previous legal victories or XRP’s status and was just a procedural error. Rather than accepting defeat, the parties refilled the motion on June 12, addressing Judge Torres’ concerns and requesting to lift the institutional sales injunction and $75 million return to Ripple post-SEC payment.
Why XRP Holders Anticipate June 16
June 16 has been widely interpreted as the conclusion day for the case. The date marks a deadline for the SEC to file a status report with the U.S. Court of Appeals for the Second Circuit, describing whether the parties have settled, requested an extension, or allowed the appeal to resume. Although both parties remained silent for some time, the new motion has stirred hope that Judge Torres will deliver the ruling on the settlement that day.
Prospects for Case Resolution
If Judge Torres grants the new motion, both parties are expected to move to dismiss the appeals in the Second Circuit, paving the way toward final settlement procedures. With the joint motion resubmitted, the probability of resolving the lengthy legal process remains high.
The situation surrounding the Ripple vs. SEC case is actively developing, and June 16 may be a pivotal moment for XRP and its holders.
