The cryptocurrency world is watching closely as the long-running legal battle between Ripple Labs and the Securities and Exchange Commission (SEC) approaches a pivotal moment. With a crucial June 16 deadline looming, legal experts and XRP investors are questioning why both parties have remained silent for nearly three weeks following a significant court decision.
The Mysterious 20-Day Silence
Attorney Fred Rispoli recently highlighted a puzzling development in the Ripple lawsuit – it’s been 20 days since Judge Analisa Torres denied a joint motion from Ripple and the SEC, yet neither party has submitted a new filing . This unusual silence comes at a critical juncture in the case.
“20 days later, no refile yet by SEC and Ripple in district court and the June 16 deadline for the status update in the 2nd Circuit looms large,” Rispoli noted on social media platform X .
The silence follows Judge Torres’ May 15 decision to reject a joint request for an indicative ruling that would have approved a proposed settlement. This deal would have reduced Ripple’s penalty to $50 million and removed the injunction on its operations. However, the judge determined that both parties had filed their request under incorrect procedural rules .
Why June 16 Matters
The approaching June 16 deadline represents a critical moment in the case’s trajectory. As of June 5, neither Ripple nor the SEC has refiled their joint request to amend the final judgment . According to legal experts, if no new motion is filed before Judge Torres by this date, the Second Circuit Court will proceed based on her original rejection, potentially restarting the entire appeal process .
XRP attorney Bill Morgan has emphasized the significance of this timeline, noting that the SEC must submit a status report to the Appeals Court as the 60-day pause in proceedings expires . In April, the US Court of Appeals for the Second Circuit granted a joint request from both parties to temporarily pause the appeal process for 60 days, with the court ordering the SEC to submit a status report by June 15 .
“The count down to the date the SEC must report to the Appeal Court is now 12 days. Something has to happen by then or the Appeal and Cross-appeal continues and a briefing is due from Ripple,” Morgan stated .
Settlement Rumors Intensify
The extended silence has fueled speculation about potential behind-the-scenes negotiations. Some cryptocurrency advocates suggest that Ripple, the SEC, and Judge Torres may have already reached an agreement privately .
Brett Crypto, an XRP supporter, recently claimed on social media: “Hearing SEC, Ripple & Judge Torres have finally reached an agreement. Word is Ripple came out on top.” However, these claims remain unverified with no official confirmation .
Other rumors point to June 13 as a potential settlement announcement date. According to crypto advocate “The Real Remi Relief,” all parties have allegedly “reached a deal” that could be publicly announced on that date. This speculation has already impacted XRP’s market performance, with its value rising to approximately $2.25, reflecting a 4% increase over 24 hours .
What’s at Stake
Earlier in 2025, a tentative deal proposed a $50 million penalty for Ripple and a return of $75 million worth of XRP tokens . The resolution of this case could have far-reaching implications for the entire cryptocurrency industry, potentially establishing precedents for how digital assets are regulated in the United States.
As attorney Rispoli observed, “The message by Torres was clear that both parties need to beg for forgiveness. Ripple will say whatever to get it done, but how much public groveling is the SEC willing to do?”
With just days remaining until the deadline, the cryptocurrency community remains on high alert for any developments that could signal the final chapter in this landmark legal battle.
