Ripple and the SEC may finally be close to settling their long legal battle, and a well-known lawyer thinks Judge Analisa Torres will approve the latest request that could end it all.
Lawyer Bill Morgan believes this joint motion, filed by both Ripple and the SEC, will likely be accepted, even though he isn’t impressed with the way it’s written. Still, he says it could be enough to move the case toward a final settlement.
XRP Lawsuit Update: Another 60-Day Extension?
On June 12, both Ripple and the SEC jointly filed a motion asking Judge Torres to lift an earlier injunction and release $125 million held in escrow. As per their settlement plan, $50 million would go to the SEC, while Ripple would get back the remaining $75 million. This arrangement, if approved, would effectively end their appeals and cross-appeals, resolving the ongoing legal standoff.
Despite being underwhelmed by how the motion was written, Morgan stressed its importance. He called the judge’s decision on this request “crucial” for the settlement to move forward. If the motion is not granted, he warns that the settlement would fall apart and the legal tug-of-war would drag on. According to him, Ripple and the SEC both gave examples of other cases where judges have changed their past decisions to help parties reach a deal. That makes this motion even more likely to succeed.
He also reminded people that despite some online influencers saying the case is over, it’s not. Everything still depends on what Judge Torres decides.
Crypto Lawyers in Sync…
And honestly, lawyer Fred Rispoli isn’t too sure this new attempt by Ripple and the SEC will land any better. He feels the judge was already frustrated last time and probably expected something way stronger this round. But instead of Ripple owning up or the SEC admitting where it went wrong with crypto rules, the filing just skimmed over some past case dismissals and threw in a quick line about the SEC’s crypto task force. That’s why Rispoli thinks it might not cut it this time either.
Ripple and the SEC have jointly filed a motion to lift an earlier injunction and release $125 million in escrow funds. The proposal includes paying $50 million to the SEC and returning $75 million to Ripple.
If approved, it would resolve all appeals and cross-appeals, potentially bringing the years-long XRP lawsuit to an official close.
The lawsuit began in December 2020, making it one of the longest-running and most-watched legal battles in the crypto space.
If approved, it could be. But if denied, more filings and court sessions will likely follow, prolonging the lawsuit.
