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- The Ripple vs. SEC case could drag on if neither party submits the correct filings by June 16.
- The price of XRP is still experiencing consolidation, but is on the right path for further upward trends.
As the second half of 2025 opens its curtains, June 16 is a key date XRP investors should mark on their calendars. This date is pivotal in determining the next step for the Ripple vs SEC legal battle, which began in 2020.
Delay Looms for the Ripple vs SEC Case
As we covered in our latest report, the US Securities and Exchange Commission (SEC) and Ripple reached a $50 million settlement. This amount is a substantial reduction from the $125 million fine the court imposed on the blockchain firm.
However, US District Judge Analisa Torres rejected the settlement request in a May 15 ruling. As detailed in our last news piece, Judge Torres called the motion procedurally improper and said it required a higher legal standard under Federal Rule of Civil Procedure 60.
The ruling meant both parties failed to follow the correct legal process when requesting the settlement. As a result, the Ripple and the SEC needed to refile under the appropriate rule.
However, as of June 5, 2025, both parties have yet to submit the correct application, which poses a delay in the next step of the case. In an X post, Attorney Fred Rispoli highlighted June 16 as a key date. He said both parties must submit a status update to the United States Court of Appeals for the Second Circuit before the June 16 deadline.
Rispoli emphasized that the Second Circuit will only have the denial of the first motion to work with if nothing is refiled. This could restart the briefing schedule and cause a delay in the already long-standing case.
Alternatively, the Second Circuit could extend the process by 60 days. However, this depends on a pending submission before Judge Torres at the time of the status update.
The Attorney concluded his post with an emphasis on forgiveness. He thinks both parties need to beg for forgiveness in their new application. While he claims Ripple may not find it difficult to plead, he thinks otherwise for the SEC.
A Little Back Story and How XRP is Reacting
The legal battle between Ripple and the SEC began in December 2020. The regulator accused Ripple of selling XRP as securities. In July 2023, Judge Torres ruled in partial favor of Rippe. She determined that XRP sales on exchanges did not constitute an investment contract.
However, the sales to institutional investors violated Federal securities laws. Therefore, the court asked Ripple to pay a $125 million fine and a permanent injunction. The case did not end here, as the SEC, led by Chair Gary Gensler, filed an appeal, as summarized in our earlier news story.
Despite the drawbacks, many are optimistic that the case will end soon, especially considering Donald Trump’s soft crypto stance. Under the new administration, top lawsuits, including those of MetaMask and ConsenSys, are now closed.
The legal drama between the SEC and Ripple appears not to be stopping XRP’s growth trajectory. The coin is currently priced at $2.2 despite a 0.96% decline over the previous day.
