Ripple’s legal battle with the SEC may reach a turning point within 12 days, as attorney Bill Morgan emphasizes the significance of the upcoming June 16 deadline.
In a recent post on X, Morgan pointed out that the SEC must submit a status report to the Appeals Court by June 16, marking the end of a 60-day pause granted for settlement discussions.
SEC must submit a report to the court or continue the appeal process
On April 15, 2025, the US Court of Appeals for the Second Circuit paused the Ripple vs. SEC case for 60 days after both sides asked for it, which suggests they might be trying to settle or make progress outside of court.
However, the court agreed to the pause only if the SEC sends a formal update to the Appeals Court by June 16, explaining whether talks with Ripple led to any real agreement or next steps.
June 16 marks the end of the temporary break in the case, and if the SEC does not send an update by then, or if its update shows no progress, the case will automatically continue, and the appeal and cross-appeal will start again.
Attorney Bill Morgan, who has followed the XRP case for years, pointed out the deadline in a recent post on X, saying, “Something has to happen by then, or the appeal and cross-appeal will continue, and Ripple must submit a briefing,” which makes it clear that Ripple will need to send its own legal response.
Some people in the crypto legal community think both sides might settle just before the deadline, maybe around June 13, while others believe the case will probably go back to court because no new filings have appeared yet, but no one can be sure until the SEC sends its report.
Lawyers disagree on whether a settlement is close
Some lawyers following the case think the SEC will settle with Ripple before the deadline. However, others believe they won’t, and the case will go on with more appeals.
Bill Morgan, one of the hopeful lawyers, said the settlement could happen soon because the SEC has to submit a report before the deadline, and the agency likely doesn’t want to slow down this case while other cases wait.
However, lawyers like Andrew Balthazor from Holland & Knight LLP feel less hopeful because the silence and lack of new filings show that both sides haven’t found an easy way to settle, so the case will probably continue with more court fights.
On the other hand, Keri Axel, a lawyer at Waymaker LLP, disagrees with Balthazor’s cautious opinion. She says that settlements during appeals happen often, and setbacks like Judge Torres recently rejecting Ripple’s request are usually temporary and don’t mean the settlement talks have stopped.
Justin Keener, who is not involved in the lawsuit, recently filed a request asking the court to demand “decisive evidence,” but some legal commentators find this move unusual and unclear since no one knows how his filing will affect the court’s decisions or the case’s progress.
Keener’s filing raises questions about whether outsiders might seek to influence the court or question how it is handling evidence, creating an even more complicated and unpredictable case.
Yet because the public wants to hear what the lawyers have to say, and because those lawyers argue with one another, the Ripple vs. SEC case seems more unpredictable than ever.
If the SEC’s report shows that settlement talks failed, the legal fight will likely continue for many more months, stretching well into 2025, and keep XRP investors facing uncertainty and price swings.
A positive update from the SEC will give the XRP community some relief from the tension and also help set clear legal laws for classifying the token.
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