Both sides noticed appeals in October 2024, but those proceedings were placed in abeyance on 16 April 2025 to allow time for a settlement‐in-principle. The joint request for an indicative ruling followed on 8 May 2025 but was denied a week later because the parties had not articulated why modification met the Rule 60(b)(6) “exceptional circumstances” threshold.
The parties also argue that public interests are not harmed because Judge Torres’s substantive summary-judgment ruling will “remain untouched and will continue to bind the parties.” The requested relief, they contend, affects only remedial provisions—penalty size and injunctive scope—whose adjustment “reflects the unique facts of this case” and therefore carries “relatively small” precedential weight.
Judge Torres now must decide whether these articulated factors meet the high bar of Rule 60(b)(6). Should she signal her willingness to grant the relief in the XRP lawsuit, the securities regulator and the San Francisco-based fintech will ask the Second Circuit to remand the case for entry of an amended judgment, after which both the SEC’s appeal (No. 24-2648) and Ripple’s cross-appeal (No. 24-2705) would be voluntarily dismissed.
If the court demurs, the litigation returns to the appellate track, extending a saga that began when the SEC sued Ripple on 22 December 2020. For now, the fate of the injunction and $75 million in escrowed funds—and, by extension, Ripple’s immediate regulatory posture—rests on whether Judge Torres accepts that, five years on, the “exceptional circumstances” standard has finally been met.
At press time, XRP traded at $2.11.
