Key Takeaways:
- Ripple faces a critical legal juncture as the SEC’s 60-day deadline to update the U.S. Court of Appeals expires June 16.
- XRP attorney Bill Morgan suggests pivotal movement could occur within this tight window.
- Market sentiment and legal experts remain sharply divided on whether a settlement is near or if a protracted appeal is inevitable.
The legal saga between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) may be approaching a decisive moment. With the SEC required to submit a status report to the U.S. Court of Appeals by June 16, all eyes are on whether this 12-day countdown will spark resolution—or further escalation.
Read More: Ripple CLO Slams SEC’s Retreat, Urges Clear Crypto Rules After XRP Lawsuit Ends
SEC’s 60-Day Deadline: Ripple’s Turning Point or Legal Stalemate?
The crypto community is watching carefully as the SEC’s 60-day countdown judge’s decision opens the door to significant development in one of the most-watched legal battles yet in the history of digital assets.
Bill Morgan, attorney and an influential figure in the XRP legal saga recently brought home how critical sounding the SEC status update is on the X social platform by writing: With less than two weeks to go the SEC filed its required update the end of the month, a legal trigger point is at hand one way or another, either the case progresses with new filing or the case enters a whole new phase of litigation where both sides will file for that last chance on appeal.
This deadline results from a court order from earlier this year where both Ripple and the SEC asked for a stay to be temporarily put on the appeals process. The court agreed in April to the pause, allowing the S.E.C. until mid-June to evaluate and report its position.
Ripple’s Legal Path So Far: Key Dates From Lawsuit to Trial
- July 2023: Judge Analisa Torres found XRP to not be a security in programmatic sales in a partial victory for Ripple.
- October 2023: EC dismisses charges against Ripple execs Brad Garlinghouse and Chris Larsen.
- April 2024: The appeals process was paused for 60 days after a joint request from both parties.
- June 16, 2025: SEC’s deadline to report to the Court of Appeals.
Read More: Ripple and SEC Seek 60-Day Appeal Stay: Is Settlement on the Horizon?
Legal World Divided: Will This Thing Settle or Linger?
Opposing Legal Views Leave Issue in Limbo
While some experts believe a deal might be possible within a few days, others are skeptical.
Beyond the legalese, market watchers say the indefinite uncertainty still burdens XRP’s price action and investor sentiment.
The Strategic Position of Ripple and What’s on the Line
So far, it has fared relatively well in the legal storm for Ripple. Its partial 2023 court victory lifted XRP prices, prompted multiple relistings on major exchanges and attracted institutional players into the market.
But until there’s a ruling, there will still be legal uncertainty surrounding any sales of XRP—especially in the form of institutional sales, which the court ruled were securities.
Institutional Partnerships to Pause?
Looks like its lengthy justice system battle has pushed Ripple’s strategic plays back by many yards. Industry observers believe intersections, particularly with regard to U.S. banks, are frozen until a complete picture of regulation emerges.
Ripple CEO Brad Garlinghouse has been vocal about the company’s intentions to grow internationally and go public in nations that are more friendly to cryptocurrency, if regulatory uncertainty continues at home.
Why the June 16 Deadline Could Shift the Crypto Landscape
The SEC’s filing is not just a procedural report — it could trigger a series of legal and market responses. This could go one of three ways:
- The SEC wins on appeal: This stretches the legal saga into late 2025, perhaps even 2026, with no end in sight for XRP.
- The SEC drops its appeal: This would make the partial Ripple victory permanent and send a powerful signal to other crypto cases.
- A shock settlement comes out: Unlikely in nature, it would be a shot of clarity the moment it occurs, prompting a jolt to XRP price and crypto market sentiment.
How Ripple vs. SEC Could Influence Other Cases
The Ripple litigation is about more than one token. It is about whether and how U.S. regulators will regulate digital assets. If Ripple wins, it might encourage other companies in the blockchain space to fight back and not settle.
On the other hand, a successful outcome for the SEC could bolster its position in other litigation such as with Coinbase and Binance.
Beyond cryptocurrency, law professors who specialize in financial matters are closely monitoring how appellate courts will handle the dividing line between investment contracts and digital tokens — a boundary that is legally fuzzy.
Investor Sentiment and XRP’s Price Response
There’s a cautious atmosphere in XRP trading with some modest upside being triggered but a lack of follow through. These traders on platforms such as Binance and Bybit note a rise in trading volumes of XRP derivatives, indicating rising expectations, but also a hedge against volatility.
XRP has been trading in the $0.51–$0.54 range as of June 5, and analysts have pointed to the legal deadline as one short-term ejaculation. A final resolution, either in the form of a settlement or in the form of being dropped from the appeal, may lead to a price breakout.
Analysts and trading desks focus specifically on June 13–16 as high-volatility days, and there are indications that derivatives traders are already positioning accordingly.