SEC Drama Unfolds: Ripple’s Rollercoaster Ride Continues! 🎢

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In the latest twist of the Ripple-SEC saga, both parties have decided to play a game of legal limbo, asking the Second Circuit to keep the appeals on hold while they wait for a motion for an indicative ruling. It’s like waiting for a bus that’s perpetually late, with the SEC promising to file a status update by the distant date of August 15, 2025. Mark your calendars, folks! 🗓️

Just last week, Ripple and the SEC dusted off their request for an indicative ruling after Judge Torres gave them a polite “not today” back in May. It’s like asking for a second helping of dessert after being told you’ve had enough—good luck with that!

As the clock ticks down to mid-August, the XRP community finds itself in a state of suspended animation, like a deer caught in headlights. Speculation is running wild about whether Judge Torres might change her mind and what the outcome of this indicative ruling could possibly be. It’s the legal equivalent of waiting for a surprise party that may or may not happen. 🎉

“I’d be utterly flabbergasted if she rejects the refile,” one XRP enthusiast mused on X, “Should we warn folks that if things go south and either side decides to appeal, the case will just boomerang back to Torres?” Because who doesn’t love a good plot twist? 😏

I don’t think there’s any way to predict whether she will modify her order. I could see it going either way.

— Marc Fagel (@Marc_Fagel) June 17, 2025

Marc Fagel, a former SEC regional director, chimed in with a response that was as clear as mud. “I don’t think there’s any way to predict whether she will modify her order. I could see it going either way,” he said, which is about as helpful as a screen door on a submarine. 🚪💦

What’s next?

Ripple and the SEC are slowly winding down this legal drama that kicked off back in December 2020, revolving around the alleged unregistered securities of XRP sales. It’s like watching a soap opera that just won’t end!

Looking ahead, Judge Torres will need to provide an indicative ruling on whether the court will lift the injunction and release the escrow, with a cool $50 million going to the SEC and $75 million making its way back to Ripple. Because who doesn’t love a good financial tug-of-war?

Once the injunction is lifted, the funds are distributed, and both the SEC’s appeal and Ripple’s cross-appeal are tossed out like last week’s leftovers, we might finally see the end of this saga. Or at least until the next episode drops! 🍿

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2025-06-17 17:04