XRP News Today: Ripple SEC Lawsuit Deadline Approaches With Multiple Possible Outcomes

As the June 16 deadline approaches, the XRP community is eagerly awaiting developments in the ongoing lawsuit between Ripple and the US Securities and Exchange Commission (SEC). The lawsuit has been a focal point for the XRP community, with many hoping for a resolution that could significantly impact the cryptocurrency's future.

James Farrell, a former SEC lawyer, has shared his predictions on the potential outcomes of the lawsuit. Farrell outlined four possible scenarios that could unfold in the coming weeks. The first scenario involves Ripple and the SEC agreeing to drop their appeals and reduce penalties, informing the 2nd Circuit about filing voluntary dismissals to avoid consideration of Judge Torres’ ruling. The second scenario sees the parties requesting the 2nd Circuit to grant an additional 60 days, citing Judge Torres’ denial of an indicative ruling, while ensuring the court does not deny the extension and reset the appeal schedule. The third scenario involves Ripple and the SEC filing a new motion for an indicative ruling request to Judge Torres, while asking the 2nd Circuit to grant another 60 days for deliberation. The final scenario sees both parties continuing their appeals in the 2nd Circuit, seeking a resolution and settlement with the injunction lifted and penalties reduced.

Farrell emphasized the importance of lifting the injunction for Ripple to proceed with an Initial Public Offering (IPO). He noted that the SEC injunction has effectively prevented Ripple from filing for an IPO for the next four years. Farrell suggested that Ripple might wait until the injunction's anniversary to file a solo motion asking Judge Torres to lift it, hoping it goes unnoticed. This strategic move could allow Ripple to capitalize on the current crypto-friendly environment and align with other companies rushing to file for IPOs.

Other legal experts have also weighed in on the Ripple vs. SEC case. Attorney Fred Rispoli expects both parties to refile their motion using the correct legal procedure, as they initially took a faster route. Ripple's Chief Legal Officer, Stuart Alderoty, confirmed that both parties are aligned on settling the case and will work together to address the court's concerns. Alderoty posted on X, stating, "Ripple and the SEC are fully in agreement to resolve this case and will revisit this issue with the Court." Legal expert Sherry suggested that the parties might attempt another filing for a positive outcome in an indicative ruling. However, she advised Ripple to continue its cross-appeal if Judge Torres rejects the changes again.