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SEC's Strategic Moves: Is Ripple Finally Turning the Tide?

The Ripple versus SEC legal saga is at a critical crossroads, with recent developments hinting at a possible resolution.

Judge Analisa Torres recently denied the joint request from both parties for an indicative ruling, citing improper legal procedures.

This situation has created a surprising delay, as neither Ripple nor the SEC has refiled their motion according to the correct rules thus far.

With a deadline of June 16 looming for a status update to the U.S. Court of Appeals for the Second Circuit, the urgency of the matter is growing.

If neither party submits a renewed motion by this deadline, the Second Circuit will likely revert to the judge’s prior denial, potentially restarting the appeals process.

Conversely, a properly filed request could prompt the court to implement a 60-day pause for further consideration.

Interestingly, speculation abounds over whether the SEC might entirely drop its appeal, leaving Ripple to continue addressing its own cross-appeal.

Attorney Fred Rispoli clarified that the SEC has indeed dropped its main appeal, but Ripple’s issues regarding potential penalties remain live.

As the June 16 deadline approaches, the XRP community watches closely, eager for clarity on both parties’ next moves.

In this high-stakes environment, the future of Ripple and its XRP token hangs in the balance, as stakeholders await the unfolding developments.