Sec./.ripple procedure: expiry of the deadline on June 16 can be the decisive date
- Ripple and the SEC must submit their revised applications again by June 16 or expect a further 60-day delay in the procedure.
- Speculations about an agreement grew up the XRP course, but no official confirmation was published.
The legal dispute of the US stock exchange supervision SEC and Ripple will continue to be delayed if the parties do not adhere to a period set. Until June 5, neither Ripple nor the SEC had submitted a corrected application after a procedural rejection in May.
The US Court of Appeals for the Second Circuit has set a deadline for a status update until June 16. If there is no application by this date, the procedure could be re -rolled up or extended by another two months.
Applications must be revised
On May 8, 2025, Ripple and the SEC submitted a joint application for a preliminary decision with judge Analisa Torres. In the application, a fine of $ 50 million for Ripple and the lifting of the injunction was proposed. Judge Torres, however, rejected the application on May 15 on the grounds that he was proceeding in terms of procedural. She said that she would reject the application due to the incorrect submission if the case came back to her dish.
Both sides must now submit the application again in accordance with the civil law procedural rules. No updated application had been submitted until June 5. Attorney Fred Rispoli pointed out in a recent published post on X (formerly Twitter) on the delay and said that the second Court of Justice will only take the rejected application to the files if the deadline on June 16 expires without a proper new entry.
Rispoli said that Judge Torres has a valid application on June 16, the Second Circuit can suspend the case for another 60 days. Otherwise, the case will be relocated to the beginning of the schedule for submitting applications for appeals, and the case will take even longer. He said both sides had to “ask for forgiveness” and asked the SEC if they would do this publicly.
Comparative rumors and market reactions
Since there is no official information, speculation increases. In Social Mediea, crypto commentator “The Real Remi Relief” claims that Ripple, the Sec and judge Torres would have reached an agreement that should be announced on June 13. Although there was no official confirmation, the rumor put the market in turmoil. XRP rose by over 4 % to $ 2.25.
Rumors swirling
Hearing SEC, Ripple & Judge Torres have finally reached an agreement. Word is Ripple came out on top.
Announcement expected Friday, June 13, 2025. Not 100% confirmed, but I’m preparing like it is.
If XRP breaks ATH ($3.84), it’s price discovery from there… pic.twitter.com/dpgp9aiTZC
— Brett (@Brett_Crypto_X) June 4, 2025
Remi said that the agreement would trigger a new XRP rally, possibly over $ 3.84. She quoted earlier predictions that were correct what the attention of the XRP community attracted. However, former SEC representative Marc Fagel described the comparison rumors as wrong and warned the investors against relying on unchecked claims.
Despite the excitement, the rejection of the joint application by judge Torres shows that no decision has yet been made. The uncertainty has led to XRP fluctuating and falling 2.36 % to $ 2.36 % within 24 hours until June 4. In the past week, he fell 8.8 % due to the market reaction to legal developments.
What is at stake and what is possible
The SEC originally claimed that Ripple sold XRP as an unregistered security. Ripple says that XRP is a currency, no security and therefore does not subject to securities laws. At the beginning of 2025, both parties discussed a proposal for a fine of $ 50 million and a return of $ 75 million in XRP tokens. This proposal was postponed according to judicial objections and must be revised and submitted.
Attorney Rispoli confirmed that the SEC has already withdrawn its calling, so that only the opposite of Ripple is left. The remaining questions are the amount of the fine and the question of whether the injunction is lifted. Some speculate that the SEC withdraws its calling to avoid a broader legal precedent that would affect its authority through other digital assets.
The outcome of this case will have an impact on how other cryptocurrencies in the USA are regulated. If Ripple wins, this could create a precedent for treating others to be treated than non-securities. If they lose, this could tighten the regulatory environment and suffocate the innovation in the crypto sector.
The deadline on June 16 is the next big milestone. If Ripple and the SEC submit a correct application by then, you may receive a 60-day extension to achieve an agreement. If not, the case will return to earlier stages and extend the time frame.
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