When will the Ripple lawsuit end? Experts say the SEC dropped the appeal and then dropped the 60-day delay

It’s been 20 days since Judge Annalisa Torres rejected both Ripple and the SEC’s joint request Indicator arbitration In their long-term legal battle. To keep that simple, the court has basically told both sides that it will not follow the appropriate legal process when seeking that particular remedy.

The judge’s message was clear. If jurisdiction was restored to her court, she refused the request when it was as is. Legally speaking, that means that Ripple and the SEC used the wrong civil action rules to file this claim. The obvious next step is for both parties to correctly reposition the same request under the correct rules. But here’s where it gets interesting – they haven’t.

Why are Ripple and SEC still not modifying their movements?

Attorney Fred Rispoli said it was 20 days and there were no new submissions from either side. The delay raises eyebrows as an important deadline approaches. On June 16th, the parties will be required to file a status update with the U.S. Court of Appeals for the Second Circuit. And what happens next will dramatically affect whether a new claim is pending in Judge Torres’ court by then.

If nothing has been filed before Judge Torres by June 16th, the Second Circuit will only have the judge’s refusal of his previous job. This means that the appeal process may restart and proceed as planned. But if by then there is a new, properly filed motion on Judge Torres’ desk, the Second Circuit may pause things once more for another 60 days to see what happens.

What is the next step in this legal drama?

The big question many people in the XRP community are asking is why this holdup? Judge Torres essentially told both Ripple and the SEC that they needed to go back to the same page, correct any filing mistakes and humbly request further relief. As Rispoli said, Ripple and Sec must “get relief on the ant on fours.”

Ripple means having a legal fight behind them, then there’s no problem doing this. But how much public backtracking and legal globels is the SEC willing to allow or allow them? That remains unknown. And just 12 days before the June 16th deadline, and time is running out.

Has SEC lost its appeal?

In addition to the confusion, one XRP holder speculated that the SEC would likely drop that appeal completely and leave Ripple to deal with the cross appeal. This is not something the SEC can control. Attorney Rispoli responded by making it clear that the SEC has actually already removed its main attraction. What remains at the moment is Ripple’s cross-appeals related to issues such as fines and injunctions.