Pro-XRP Lawyer Explains What’s Next in the Case

In the most recent development, Ripple has filed a supplemental letter in support of its motion for an indicative ruling, reigniting attention in the long-running legal battle with the U.S. Securities and Exchange Commission (SEC).

The move marks a renewed effort to push forward the settlement process, which has now progressed through several key procedural steps. Bill Morgan, an XRP enthusiast and legal expert, hails Ripple’s new filing as a “good move.”

This follows the recent move by the SEC to extend the period in which the appeal/cross-appeal is held in abeyance for a further 60 days.

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Just yesterday, it was made known that both Ripple and the SEC requested that the Second Circuit continue to hold the appeals in abeyance, with the SEC expected to file a status report by Aug. 15, 2025.

Last week, on June 12, the parties renewed their request for an indicative ruling in a second joint motion after an initial motion was denied by Judge Torres in May. While the SEC’s status report is due by mid-August, Morgan believes that the decision of Judge Torres on the joint motion for an indicative ruling could be issued soon.

What comes next?

In a recent tweet, Morgan outlined how the settlement process was progressing and what might come next.

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Once an indicative ruling is obtained, both parties will file a motion next to the Court of Appeals for a limited remand to seek the relief agreed upon by Judge Torres.

Following the granting of the limited remand, the parties will submit a motion with Judge Torres requesting the remedies agreed upon: $50 million will go to the SEC, while $75 million will be returned to Ripple.

Once the relief is distributed and the injunction lifted, the parties will file a motion with the Second Circuit court to dismiss the appeal and cross-appeals.