- Ripple and the SEC have jointly filed a motion seeking to modify the court’s final judgment, a necessary step to finalize their proposed settlement.
- However, legal expert Bill Morgan warns that unless Judge Torres approves the motion based on “exceptional circumstances,” the lawsuit will continue into appeals, contradicting claims that the case is already over.
A Critical Legal Crossroads for Ripple and the SEC
The long-running courtroom drama between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) has taken another crucial step with a joint filing submitted on June 13, 2025. While XRP holders eagerly anticipate closure, legal expert Bill Morgan warns that the case is far from over.
At the heart of this development is a joint motion by both parties requesting the court to modify the final judgment. The proposed change is essential for a long-awaited settlement to move forward. Morgan highlights that unless Judge Analisa Torres accepts the presence of “exceptional circumstances,” the current agreement between Ripple and the SEC cannot be implemented.
Also read: Bitcoin Price Prediction: $200K Target in Sight as U.S. Inflation Cools and Bullish Momentum Builds
Exceptional Circumstances’ Are the Key to Settlement
The motion seeks two primary changes: a reduction of the civil penalty and a dissolution of the permanent injunction against Ripple. The parties argue that these changes are crucial for resolving the case and avoiding further appeals. But there’s a catch — the agreement is contingent upon the court approving this motion.
If Judge Torres denies the request, Ripple and the SEC will have no choice but to resume their legal battle in the U.S. Court of Appeals for the Second Circuit. Morgan emphasized that despite optimism from some in the XRP community, the case is not yet “closed” — far from it.
Ripple’s Legal Fate and Industry Impact
Judge Torres’ upcoming decision holds immense weight. Her July 2023 ruling created a split outcome, identifying institutional XRP sales as securities while clearing programmatic sales. Ripple now seeks to amend penalties resulting from that judgment.
Should the court approve the motion, it could end one of the most high-profile crypto enforcement actions in U.S. history. A finalized settlement could pave the way for Ripple to re-enter the U.S. market with renewed clarity, while potentially softening the SEC’s future approach to digital asset regulation.
Awaiting the Verdict
Until a ruling is made, uncertainty looms. The case could soon be closed — or spiral into prolonged appellate litigation. For the crypto world, this is more than a lawsuit. It’s a precedent that may shape the future of crypto regulation in the U.S.