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Highlights
- Ripple vs SEC case may see a major update before June 16.
- The SEC is expected to report to the Appeals Court within 12 days.
- Lawyers divide over the speculations of an imminent XRP lawsuit settlement.
The XRP lawsuit settlement is once again gaining traction as a key deadline for the SEC to report to the Appeal Court is mere days away. As XRP lawyer Bill Morgan points out, the SEC’s 60-day deadline is expiring on June 16, which has now become a crucial date in the Ripple case. Reflecting on this, Morgan has hinted at a possible development in the Ripple vs SEC case within this 12-day time period.
SEC’s 12-Day Countdown Signals Critical Update
In his latest X post, XRP attorney Bill Morgan shed light on the potential developments in the Ripple lawsuit. He highlighted June 16 as a crucial deadline for the SEC to report to the Appeal Court as the 60-day window ends. Now, only 12 days are left for the SEC to submit its status report to the Appeal Court. Thus, Morgan anticipates a significant development within this timeframe. His post read,
The count down to the date the SEC must report to the Appeal Court is now 12 days. Something has to happen by then or the Appeal and Cross-appeal continues and a briefing is due from Ripple.
Meanwhile, speculation is mounting that the Ripple vs. SEC case might be resolved by June 13, 2025, as CoinGape reported. In April, the US Court of Appeals for the Second Circuit granted a joint request from Ripple and the SEC to temporarily pause the XRP lawsuit appeal for 60 days. As a result, the court ordered the SEC to submit a status report by June 15.
After Judge Torres dismissed the motion for an indicative ruling, Morgan anticipated further filings in the SEC vs. Ripple case. Notably, this was followed by the second appearance of Justin Keener’s enigmatic filing. The filing requests the court to present “decisive evidence” in the Ripple case.
Lawyers Divide Over Ripple vs SEC Case Settlement Prospects
Lawyers are split on the feasibility of a settlement in the Ripple vs. SEC case, given the recent court decision and the existing final judgment. Although experts like Bill Morgan anticipate potential updates in the case soon, others are hoping for a more prolonged legal battle.. While some view Judge Torres’ decision as a major hurdle to the resolution, others see it as a temporary halt.
For instance, Andrew Balthazor of Holland & Knight LLP stated,
If there was an easy answer for the parties, they had two weeks to file something. And they haven’t. So that says to me that this may not be as quick a fix as they possibly thought.
At the same time, Keri Axel of Waymaker LLP contradicted his claims. She sees a possibility of an imminent end to the XRP lawsuit. The lawyer stated, “It’s a short-term hurdle. Cases settle on appeal all the time. The parties are going to find a way to resolution.”
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