The legal standoff between Ripple and the SEC concerning XRP appears to be approaching resolution, with a swift verdict potentially expected soon. This ruling could remove key barriers to a settlement and significantly transform the broader landscape of cryptocurrency regulation.
An in-depth examination of the ongoing legal proceedings between Ripple and the U.S. Securities and Exchange Commission (SEC) has been provided by lawyer Bill Morgan, focusing on XRP-related transactions. Following the submission of a revised joint motion on June 12, 2025, by both Ripple and the SEC—requesting Judge Analisa Torres to lift the injunction—the SEC additionally asked the Court of Appeals to pause the appellate proceedings. In response, the court granted a 60-day suspension, effective until August 15, 2025.
Lawyer Predicts Swift Decision as Judge Torres Nears Ruling in Ripple v. SEC XRP Case
Responding to speculation that the ruling might face a delay until August 15, Morgan stated his belief that Judge Torres would likely issue the decision beforehand. According to him, any delay could prompt the reactivation of the appeals process, thereby hindering potential settlement talks. His remarks were shared on the social platform X earlier this week :
The next update may need to be made well before 15 August 2025. I do not think anyone expects it will take judge Torres that long to rule on the joint motion by the SEC and Ripple filed on 12 June 2025.
The attorney also tackled a widespread misunderstanding regarding the cause of the delays. He emphasized that Ripple—not the SEC—has primarily extended the timeline. He clarified that Ripple sought the dissolution of the injunction, and rather than being the cause of the delay, the SEC had actively cooperated to support Ripple in achieving that outcome. The attorney explained that Ripple and the SEC could have settled the case months earlier if Ripple had not insisted on lifting the injunction.
Procedural Timeline and Motion Revisions
Morgan outlined the procedural timeline, stating that Ripple signed the settlement agreement on April 23, 2025, followed by the SEC on May 8, 2025. The court then granted a 60-day pause for the appeal and cross-appeal starting April 16, 2025. Both parties submitted a Rule 62.1 motion on May 8, 2025, seeking an indicative ruling to proceed with their agreed settlement. However, Judge Torres denied the motion, citing procedural shortcomings, particularly the failure to meet Rule 60 requirements.
After the court rejected the initial motion, Ripple and the SEC filed a revised joint motion under Rule 60 on June 12, 2025, directly addressing the concerns the court had raised. This updated filing led the SEC to notify the Court of Appeals and request an additional 60-day pause so Judge Torres could review and decide on the motion. The process now involves securing an indicative ruling, obtaining a limited remand from the appellate court, and asking Judge Torres to lift the injunction and approve the reduced $50 million penalty. These steps would be followed by the formal dismissal of both the appeal and cross-appeal.
