Ripple Labs’ latest courtroom maneuver has revived hopes that the company’s five-year battle with the US Securities and Exchange Commission could be functionally over within days. In a two-page supplemental letter filed on 17 June, Ripple asked US District Judge Analisa Torres to grant an “indicative ruling” signalling that she would dissolve the injunction contained in last August’s final judgment and accept the parties’ agreed reduction of the civil penalty to $50 million.
The filing—submitted one week after the SEC and Ripple jointly renewed their Rule 62.1 motion under the stricter Rule 60(b)(6) standard—argues that lifting the so-called “obey-the-law” injunction would not alter Ripple’s substantive obligations because “Ripple, like every other market participant, is obligated to follow the law, regardless of whether an injunction is imposed or not.”
“I’m still underwhelmed but feeling more optimistic. This may push us over the line,” he concluded. Responding to community questions, Rispoli forecast that Judge Torres is “highly likely” to rule this week or next; a positive ruling would trigger the remand process and, once formalised, “then case over.”
His cautiously upbeat assessment drew support from immigration attorney and crypto commentator Greg Beuke, who agreed: “Glad to see Ripple explain they would still have to follow the law without an injunction. Would’ve liked to see a bit more explanation of the importance of dismissing injunction, and the reason for the request. Nevertheless, I think this letter improves the chances of approval.”
James Farrell queried why Ripple was “fighting so hard to get it vacated” if the XRP injunction truly changes nothing; Rispoli retorted that critics were comparing Ripple to “obvious fraud cases” and ignoring more than a dozen crypto defendants—Kraken, Coinbase, Consensys, Robinhood and others—whose enforcement actions the SEC has abandoned altogether.
For XRP holders, the calendar is now binary. If Torres issues the indicative ruling in the coming days, the Second Circuit could remand the case well before the 15 August status deadline, allowing the parties to implement their deal and terminate the litigation during the summer recess. Should she deny the request, the case would revert to the appellate track, where briefing has been stalled since April. Rispoli, for one, sees momentum in Ripple’s favour: “This may push us over the line.”
At press time, XRP traded at $2.16.
