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The long-standing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) is entering a decisive phase. Legal expert Bill Morgan believes that Judge Analisa Torres is likely to issue a ruling before August 15, potentially determining the fate of a joint application submitted by both parties on June 12, 2025. According to Morgan, delays could jeopardize the settlement agreement and trigger renewed appellate proceedings.
As part of a jointly filed request, Ripple and the SEC are asking the Southern District Court of New York to lift a previously imposed injunction related to XRP sales. The motion comes after a similar filing on May 8 was denied due to procedural shortcomings. In this latest attempt, the parties have structured their request under Federal Rule of Civil Procedure 60, incorporating Judge Torres’ earlier objections.
Judge Torres Now Holds the Key
Morgan noted that a delayed ruling could prompt the appeals court to resume the halted appeal process, undermining months of negotiations. The lawyer emphasized the importance of Judge Torres issuing an “indicative ruling” quickly, which would pave the way for a limited remand—a crucial step toward finalizing the $50 million penalty reduction and lifting of injunctions.
If Judge Torres approves the motion, the next steps could include official dismissal of both appeal and cross-appeal actions, bringing an end to the years-long dispute that has deeply impacted XRP’s regulatory standing.
Ripple, Not SEC, Behind the Delay?
Challenging public sentiment, Morgan argued that the delay in filing was not the SEC’s fault. On social media platform X, he claimed that Ripple was the one requesting the full removal of injunctive measures, which required more time to prepare a compliant and comprehensive motion.
“Ripple wanted to eliminate all restrictions entirely, and that’s what extended the process. The SEC, in fact, supported the request and aimed to move things forward,” said Morgan.
According to his timeline, Ripple signed the revised agreement on April 23, while the SEC followed with approval on May 8. After the initial procedural misstep, both parties collaborated on a revised motion submitted on June 12, aiming to comply fully with federal court guidelines.
What Comes Next?
A favorable ruling by Judge Torres would unlock a procedural chain reaction:
- An indicative ruling
- A limited remand request to the appellate court
- Official lifting of injunctions and reduction of financial penalties
- Full withdrawal of appeal and cross-appeal motions
This scenario would mark a major milestone in crypto regulation, possibly providing XRP with long-awaited legal clarity and boosting investor confidence.
As always, Turkish NY Radio will continue to follow developments in this landmark case that could reshape the regulatory landscape for digital assets in the U.S.
