Ripple and the SEC have jointly filed a motion to extend their appeals deadline to August 15, 2025, while awaiting Judge Torres’ ruling on two key matters: potential modifications to the injunction and a proposed reduction of penalties from $125M to $50M. The case progression hinges on these pending district court decisions.
This move brings Ripple and the SEC even closer to a long awaited settlement. According to pro-XRP lawyer and crypto analyst Bill Morgan, the two sides have already signed a settlement agreement. Ripple signed on April 23 and the SEC followed on May 8. Now, they are going through the final legal steps to make it official.
What you'll learn 👉
The Road to the Ripple Settlement
After the initial settlement was signed, Ripple and the SEC agreed to pause their appeal and cross appeal processes. They filed a motion to put everything on hold and got a 60 day pause from the court starting April 16, which ended on June 16.
On May 8, the parties filed a motion under Rule 62.1. This rule allows them to ask the district judge, in this case Judge Analisa Torres, to make an “indicative ruling” on whether she would approve the changes they both agreed to. However, the judge denied that motion because it did not properly address Rule 60, which deals with modifying court judgments.
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Ripple and the SEC Fix Their Error
To correct the mistake, Ripple and the SEC submitted a new joint motion on June 12 that properly addressed Rule 60. This updated motion again asked Judge Torres for an indicative ruling. If she grants it this time, the next step would be for the parties to request a limited remand from the Court of Appeals.
This simply means asking the appeals court for permission to send the case back to the lower court so that Judge Torres can approve the settlement terms.
If that happens, Ripple and the SEC will then file a new motion with Judge Torres asking for the actual relief they agreed on. That includes dissolving the current injunction and reducing the financial penalty to $50M.
What Happens After the Court Signs Off
Once Judge Torres gives the green light and Ripple pays the reduced fine, both sides will ask the Court of Appeals to officially drop the appeal and cross appeal. That would effectively bring this long running case to a close.
This new update signals that both Ripple and the SEC are fully aligned on reaching a final resolution. While Judge Torres still needs to rule on the updated motion, all signs now point to the lawsuit being wrapped up before the end of summer.
Ripple price has reacted to every twist in this legal battle. A final settlement could give XRP the regulatory clarity it needs to grow without fear of future enforcement. While nothing is finalized yet, many in the crypto space now believe that Ripple is just one court decision away from finally putting this behind them.
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