Legal Expert Shares Next Steps for Ripple and SEC In XRP Case Settlement

Bill Morgan, an attorney in the cryptocurrency space, has provided a clear update on the current status of the Ripple and SEC case proceedings. A procedural error has halted the progress of the XRP lawsuit settlement, and Morgan detailed the next possible step. The parties previously reached a settlement agreement , signed by Ripple on April 23, 2025, and by the SEC on May 8, 2025. Following this, both sides filed a joint motion to place the appeal and cross-appeal in abeyance. A Rule 62.1 motion was filed on May 8, seeking an indicative ruling from District Judge Analisa Torres. How the settlement process is going 1. Settlement agreement signed by Ripple parties on April 23, 2025 and by the SEC on May 8, 2025 . 2. Parties filed a motion to hold the appeal and cross appeal in abeyance 3. Parties file rule 62.1 motion asking for an indicative… — bill morgan (@Belisarius2020) May 16, 2025 Procedural Error Halts Settlement Progress The request for an indicative ruling was denied due to a procedural issue. The motion did not address Rule 60, which governs relief from final judgments, leading to its rejection . However, Morgan clarified that while the court denied the motion, it did so on procedural grounds, not substantive disagreement with the settlement. This denial means the parties cannot yet proceed with the expected next step: a motion to the Second Circuit Court of Appeals requesting a limited remand. A remand would allow Judge Torres to grant the specific relief agreed upon in the settlement, including dissolving the injunction and approving the reduced penalty of $50 million. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 Next Steps Following the Setback As Morgan explained, the parties must now submit another joint motion that complies with procedural requirements. Meanwhile, Stuart Alderoty, Ripple’s Chief Legal Officer, said both sides will revisit this issue with the Court. This suggests continued cooperation between Ripple and the SEC to finalize the agreed terms. Alderoty also clarified that the rejection did not impact Ripple’s victories and XRP’s status, but was merely due to a procedural error. Once a corrected motion is submitted and approved, the sequence of actions will resume. Upon receiving a favorable indicative ruling, the parties will again request a limited remand from the Court of Appeals. After the remand is granted, they can return to Judge Torres to formally seek dissolution of the injunction and entry of the reduced fine. Despite the procedural error, the overall structure of the settlement remains intact. The initial agreement between Ripple and the SEC remains signed and valid. The setback delays the timeline but does not reverse the progress made. If the court ultimately grants the necessary relief, the final step will involve a joint motion to dismiss both the appeal and cross-appeal at the Second Circuit level. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on X , Facebook , Telegram , and Google News The post Legal Expert Shares Next Steps for Ripple and SEC In XRP Case Settlement appeared first on Times Tabloid .

Source: TimesTabloid