The Ripple vs. U.S. Securities and Exchange Commission (SEC) case continues to evolve, with a new court update expected soon. As speculation rises across social media, legal experts have stepped in to clarify what’s actually happening — and what isn’t.
A recent viral claim suggested that Judge Analisa Torres was preparing to issue a final ruling that could redefine how digital assets like XRP are classified in the U.S. Legal analyst Bill Morgan promptly corrected the misinformation, stating that no such ruling is imminent.
What’s Really Happening?
Ripple and the SEC have jointly requested an indicative ruling from Judge Torres. This is a procedural move asking the court whether it would be open to modifying previous remedies — namely, reducing Ripple’s financial penalty and lifting the injunction on institutional XRP sales.
Importantly, this move does not reopen the original judgment on XRP’s status. The July 2023 summary judgment, which declared that XRP is not a security when sold on secondary markets, remains untouched and fully intact.
“The parties have agreed that Judge Torres’ substantive ruling from 2023 will not be vacated, amended, or modified,” Morgan emphasized.
Settlement Already in Place
Rumors of a newly proposed $50 million settlement have also circulated online, but that agreement was already finalized earlier in 2025. Ripple and the SEC reached the terms in April, with the SEC approving the settlement in May. The amount represents a reduction from the original $125 million penalty, with $75 million being returned to Ripple.
Next Steps
Currently, both parties have asked the court to place their appeals on hold. The SEC is expected to file its next status report by August 15, 2025, giving Judge Torres time to consider the joint request for relief.
Why It Matters
Although the current developments won’t directly impact the broader legal classification of crypto assets in the U.S., they signal progress toward closure in a landmark case that has defined regulatory debate for over three years.
For XRP holders and the wider crypto industry, this moment reflects cautious optimism. A favorable court ruling could further solidify XRP’s legal footing and mark the final chapter in a legal battle that has shaped the future of blockchain regulation.
