 
 
The SEC vs. Ripple case has taken numerous twists and turns this year, and observers are even more uncertain about when it may be fully resolved.
Bill Morgan, an attorney known for clarifying legal issues for market players on the case while also expressing his pro-Ripple sentiments, took to X to share a timeline breakdown of the legal battle thus far.
In what he branded as the “last update” regarding the ongoing settlement process, Morgan remarked that the new development is not favorable for either party.
Notably, a settlement agreement was signed by Ripple on April 23, 2025—a move that the SEC replicated on May 8, 2025. Both parties would subsequently file a motion to hold the appeal and cross-appeal in abeyance, thereby obtaining a 60-day abeyance from April 16, 2025, to June 16, 2025.
The SEC and Ripple would both go on to file a Rule 62.1 motion, requesting an indicative ruling on May 8, 2025. However, Judge Analisa Torres denied the motion, citing procedural error—failure to address rule 60, as the reason for the denial.
 
On June 12, 2025, both parties filed a second joint motion addressing rule 60, which was approved. The SEC would then proceed to update the Court of Appeals and request that the period of Appeal and Cross-appeal be held in abeyance on June 16, 2025.
In a follow-up, both parties obtained an indicative ruling from Judge Torres regarding the second joint motion, which was denied.
According to Bill Morgan, if the indicative ruling were obtained, both parties would have filed a motion with the Court of Appeals for a limited remand to seek the relief agreed upon between the parties from Judge Torres.
In response to the new development, Stuart Alderoty, the CLO of Ripple, asserted that Ripple is still very much in control, explaining that the court granted Ripple two notable options.
“With this, the ball is back in our court. The Court gave us two options: dismiss our appeal challenging the finding on historic institutional sales—or press forward with the appeal. Stay tuned. Either way, XRP’s legal status as not a security remains unchanged. In the meantime, it’s business as usual.” Alderoty wrote.
With this, the ball is back in our court. The Court gave us two options: dismiss our appeal challenging the finding on historic institutional sales—or press forward with the appeal. Stay tuned. Either way, XRP’s legal status as not a security remains unchanged. In the meantime, it’s business as usual.
Source: https://zycrypto.com/xrp-lawsuit-heres-how-the-sec-vs-ripple-settlement-process-is-going/