If you’ve been following the Ripple vs. SEC lawsuit closely, you’re not alone — the $XRP community is watching this case like a hawk. With June 16th fast approaching, there’s growing speculation about what’s next and whether Judge Analisa Torres will issue a ruling. But according to a former SEC attorney, that expectation may be misplaced.
What’s Happening Right Now?
As part of the ongoing legal battle, Ripple and the SEC had earlier agreed to a 60-day pause in the case — approved by the court on April 16, 2025 — to explore a potential settlement. Under the proposed terms, Ripple would pay a reduced fine of $50 million (down from $125 million), and both parties would drop their appeals.
However, that deal hasn’t been finalized. And now, all eyes are on the SEC’s official status report due June 16, which could determine whether the case is heading toward settlement or back to trial.
No Ruling Coming — and Here’s Why
There’s been a lot of noise across social media, with many $XRP holders wondering: When will Judge Torres rule on the appeal withdrawal?
Former SEC enforcement lawyer Marc Fagel stepped in to clarify. In a recent statement, Fagel explained:
> “There is nothing pending before Judge Torres for her to rule on. There is nothing in front of her to revisit. She found Ripple broke the law, enjoined them from future violations, and penalized them $125 million. The ball is not in her court.”
In plain terms: don’t expect any movement from Judge Torres unless something new is formally brought before her. The parties tried to do that recently — but it didn’t go well.
What About the May 15 Decision?
On May 15, Judge Torres denied Ripple and the SEC’s joint motion for what’s called an “indicative ruling.” That was their attempt to fast-track elements of the proposed settlement. But the judge called the motion “procedurally improper,” shutting down that pathway for now.
Since then, there’s been radio silence from the court — and growing impatience online.
Why June 16 Matters
The upcoming SEC status report could be pivotal. It will likely reveal whether real progress is being made on a final agreement or if the case is poised to return to litigation.
This case has now dragged on for over four years, weighing heavily on XRP’s price and creating uncertainty for the broader crypto market. A resolution could bring long-awaited clarity — or more delays.
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Bottom Line for $XRP Holders: Don’t expect a sudden ruling from Judge Torres. The spotlight is now on the SEC and Ripple. If a deal is in the works, we’ll know more by June 16. Until then, it’s a waiting game.
Stay tuned — this next chapter could be crucial.
