Today, June 16, marks a significant date in the legal saga, as it's the deadline for the SEC to file a status report with the U.S. Court of Appeals for the Second Circuit, following a joint request from both Ripple and the SEC to pause the appeals process and explore a settlement. While this step could bring the case closer to a resolution, it is not a final judgment.
Many #XRP enthusiasts are optimistic that if the court grants the joint motion – which seeks an indicative ruling to dissolve the injunction against Ripple and reduce a previously imposed penalty – XRP could experience a substantial price pump. The belief is that a clear victory for Ripple would usher in an era of regulatory clarity and institutional adoption, propelling XRP to new heights.
However, pro-XRP lawyer Bill Morgan, a respected voice in the crypto legal landscape, has tempered these expectations. In a recent statement, Morgan reminded the community that Judge Analisa Torres previously rejected a similar joint motion in just seven days. He suggested that a quick decision in this new motion might not necessarily be a positive sign, hinting at a potential repeat of the earlier rejection.