XRP Lawsuit: What Lies Ahead, Another Long-Drawn Battle?

The XRP lawsuit returned to the spotlight this week after a recent joint filing by both parties.

Notably, Ripple’s latest court filing has fueled new speculations about a possible end to the multi-year-long legal battle.

The company is pushing for a favorable ruling allowing both parties to settle without continuing their appeals.

Notably, legal experts are now weighing in on what the next steps might be.

XRP Lawsuit Case Filing Hints at Settlement Close

In a move that caught the crypto world’s attention, Ripple submitted a Supplemental Letter asking Judge Torres to acknowledge the parties’ negotiated settlement.

Ripple stated that the agreement would ease the burden on the court and the appeals court.

They also noted the SEC’s recent efforts to set more explicit rules for the crypto space.

Ripple clarified that the settlement would not interfere with the court’s previous ruling but would still hold the company accountable.

Importantly, Ripple emphasized that the deal would help bring it closer to treatment in other companies whose cases were dismissed much earlier due to the SEC’s discretion.

This point stood out to many observers. Pro-crypto lawyer Bill Morgan noted Ripple’s letter was short but effective.

He said it was a good move, but Ripple did not waste words; they were saving a lot of legal costs.

Morgan also stressed the need to vacate the injunction that blocks XRP sales to institutional investors.

He warned that keeping the injunction would place Ripple at a disadvantage compared to its competitors.

It is worth noting that it alone would put the firm at risk of violating both the Securities Act and a court order.

In describing the order of events, Morgan said both parties will need to “obtain indicative ruling from Judge Torres sought in second joint motion.”

Notably, this will precede the push for final cross appeal dismissal by the Court of Appeals

Vacating Injunction Could Change XRP’s Future

It is important to add that Ripple’s push to lift the institutional sales ban is not just about legal relief.

The XRP lawsuit holds bigger consequences for the coin’s adoption in North America.

Morgan explained that uncertainty would linger around XRP’s classification. This will happen especially if institutional sales remain restricted.

If this current position happens, Ripple Labs would bear all the risk, while other players would move more freely.

Legal analyst Fred Rispoli, who is also following the case closely, said he was still underwhelmed but feeling more optimistic.

He believes this latest filing could escalate the matter and added that a settlement might now be within reach.

ETF Prospects and XRP Price in the Balance

A full settlement in the Ripple vs. SEC case could confirm the move by the SEC to drop its appeal against XRP’s programmatic sales.

If that happens, attention could shift toward XRP ETF applications, including the one from Franklin Templeton and Grayscale Investments.

A green light from the SEC would likely boost XRP demand, driving its price.

Despite legal optimism, XRP price fell 3.43% on June 17, closing at $2.1606. It underperformed the broader market, which was down 1.94%.

Still, traders are watching closely regarding what may come next. A move above $2.20 could lead to a retest of the $2.3376 high. As of now, it is trading at $2.14

However, if XRP drops below its 200-day EMA, the coin might slide to $1.9299. For now, the Ripple vs SEC case remains the key driver to watch.

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