XRP Faces Crucial Deadline in Ripple vs. SEC Case

XRP is drawing renewed attention as Ripple and the U.S. Securities and Exchange Commission (SEC) approach a critical June 16 deadline in their long-running legal dispute. This date may determine whether the case finally concludes or gets drawn out even further.

Although Ripple CEO Brad Garlinghouse previously claimed that the SEC intended to drop its lawsuit, there has been little meaningful progress since the announcement months ago. Legal observers and the crypto community alike are watching closely, as the legal standoff remains unresolved and both parties have yet to file necessary documents to move the case forward in compliance with court procedures.

U.S. attorney Fred Rispoli recently commented that Ripple and the SEC failed to refile their settlement motion according to courtroom standards. This follows an earlier agreement in which Ripple agreed to pay a reduced penalty of $50 million, down from an earlier ruling of $125 million. However, Judge Analisa Torres rejected this motion, citing that it wasn’t submitted properly under Rule 60.

With the June 16 deadline looming, Rispoli warned that if legal filings aren’t corrected by then, the court may restart the briefing process and delay proceedings by another 60 days. He emphasized that both sides, especially the SEC, would need to present a revised and more compliant submission to avoid extended litigation. In his words, “Ripple will say whatever to get it done, but how much public groveling is the SEC willing to do?” He suggested that the next move must happen within days, or risk prolonging the saga.

Despite these unresolved issues, industry insiders remain divided on how the case will unfold. Influential voices like Bill Morgan and the user Levi on X (formerly Twitter) believe that the coming days will be pivotal. Morgan emphasized that some legal action must take place by June 16, or both the appeal and cross-appeal could proceed. Levi, by contrast, predicted that the deadline might finally mark the end of the legal battle.

While the Ripple vs. SEC lawsuit has historically contributed to significant volatility in the XRP market, current sentiment suggests that its impact has been absorbed. As a result, XRP’s value is now more influenced by potential exchange-traded fund (ETF) approvals and Ripple’s ongoing business developments.

In fact, momentum is building around the possibility of a U.S.-based XRP spot ETF. Several major financial institutions have expressed interest in launching such products. Industry giants like Grayscale, 21Shares, WisdomTree, and Franklin Templeton are among the applicants vying to introduce these ETFs. If approved, such offerings could provide a new avenue for investors seeking exposure to XRP, and many analysts believe this could drive further adoption and market activity.

According to Polymarket, optimism around regulatory approval is high, with a 94% chance estimated for a green light by the end of 2025. This positive outlook reflects the market’s anticipation that broader financial integration for XRP is on the horizon.

In parallel to legal proceedings, Ripple continues its strategic acquisitions and partnerships. In April, Ripple made headlines after spending $1.25 billion to acquire Hidden Road, a prominent prime brokerage. This move aligns with Ripple’s mission to expand institutional services and enhance liquidity options across its ecosystem.

Rumors had also circulated suggesting Ripple might be in talks to buy stablecoin issuer Circle for over $10 billion. However, Garlinghouse dismissed these claims, clarifying that such discussions were not taking place.

Related: Expert Advice: Sell XRP If You’re Confused

Currently, XRP is trading around $2.15, representing a 12% drop over the last two weeks. While short-term fluctuations persist, the longer-term outlook for XRP remains closely tied to developments in both the courtroom and the financial innovation Ripple continues to drive.