Ripple and the SEC must submit a joint update to the U.S. Court of Appeals by June 15 under the paused appeal agreement.
The denied motion for an indicative ruling and subsequent filings have added complexity to the already drawn-out case.
Legal experts remain divided, with some expecting prolonged litigation and others forecasting a possible appeal-stage settlement.
The long-running legal dispute between Ripple Labs and the U.S. Securities and Exchange Commission is approaching a significant juncture. The SEC is required to present a status report to the U.S. Court of Appeals by the 15th of June after the court-ordered pause which lasted 60 days until April.
Many people in both the legal field and the industry regard the upcoming deadline as an important stage in the development of the XRP case.
The court has ordered Ripple and SEC to update their filings.
On April 14, both Ripple and the SEC asked the Court of Appeals for the Second Circuit to stop their appeal, and this request was accepted by the court. Under the order, both parties were told to reopen the case and inform the court within two months. Bill Morgan noted that the approaching June 15 deadline matters, saying that additional legal steps, including Ripple’s detailed explanation, could happen if no solution is found.
Legal professionals have differing views on whether a settlement is possible within the short window. Attorney Andrew Balthazor noted the lack of recent filings as a possible sign that talks have stalled. He suggested that if an agreement were simple to reach, the parties might have already filed an update. However, attorney Keri Axel countered that many appeals are resolved through last-minute negotiations and sees the current delay as temporary rather than definitive.
Post-Ruling Developments Spark More Attention
The situation became more complex after Judge Analisa Torres denied Ripple’s motion for an indicative ruling. This was followed by a filing by Justin Keener, which requested the court introduce “decisive evidence” in the ongoing matter. The timing of the filing and the court’s previous decisions have intensified speculation about the case's direction.
Speculation has also grown around the date of June 13, when some believe a resolution could be reached before the official reporting deadline. However, as of now, no confirmation has been made regarding early closure. The community remains attentive as the deadline approaches, expecting potential developments within the coming days.
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