Just when the crypto world thought the landmark Ripple vs. SEC lawsuit was nearing its end, a new development has emerged. In a surprising move, both Ripple and the U.S. Securities and Exchange Commission (SEC) have come together to ask the court to modify previously determined penalties and relief measures. The joint request has fueled renewed speculation that the high-stakes legal battle could finally wrap up by the end of 2025.

The latest twist comes after the parties filed a motion for what’s known as an “indicative ruling.” This legal maneuver allows a judge to consider changing a final judgment even while an appeal is pending. Ripple and the SEC are asking for changes to both the $125 million financial penalty and an injunction that currently prevents Ripple from engaging in similar unregistered sales of XRP in the future.

Legal analysts, including former SEC lawyer Marc Fagel, have weighed in on the development, explaining that this is a strategic move by both sides. Rather than continuing to appeal or litigate every aspect of the case, Ripple and the SEC appear to be negotiating a path to resolution by mutually agreeing to modify certain court-imposed restrictions.

Ripple, for its part, has made it clear that even if the injunction is removed, it does not intend to bypass securities laws. In a follow-up letter submitted to the court, the company emphasized that eliminating the injunction wouldn’t exempt them from future legal compliance. This message was likely crafted to reassure both regulators and the broader market that Ripple remains committed to operating within legal boundaries.

Still, the latest move has fueled debate within the crypto community about who is truly driving the delays in the case’s resolution. According to well-known XRP attorney Bill Morgan, the hold-up isn’t coming from the SEC but from Ripple itself. Morgan noted that Ripple is now seeking additional revisions, despite the SEC’s apparent willingness to work toward dissolving the existing injunction.

Former SEC legal experts echoed this view, pointing out that the original charges were filed under a different SEC administration, and that current leadership—under Chairman Gary Gensler—is not directly responsible for the pace of the proceedings. Now, it’s all up to the court, specifically Judge Analisa Torres, to determine whether the joint request to revise penalties and relief will be approved.

Morgan also suggested that the SEC’s evolving enforcement posture may have emboldened Ripple to pursue more favorable settlement terms. With the regulatory environment shifting and some crypto-friendly legislative initiatives gaining momentum in the U.S., Ripple could be using the moment to renegotiate conditions that were once seen as fixed.

The key takeaway from all of this is that both sides appear more open than ever to finding common ground. If Judge Torres grants the relief modifications, a final resolution could be on the horizon in a matter of weeks, potentially ending a lawsuit that has cast a long shadow over the crypto industry since late 2020.

The Ripple vs. SEC case has been one of the most closely watched legal battles in crypto history. At its core, the dispute centers around whether Ripple’s sale of XRP tokens constituted an unregistered securities offering. The outcome of the case is expected to have major implications for how other crypto assets are regulated in the U.S., making its resolution pivotal for the entire digital asset space.

While Ripple’s legal team seems confident in pushing for new terms, the final chapter now rests in the hands of the court. With mounting pressure and growing regulatory clarity across the broader crypto market, there’s cautious optimism that the Ripple-SEC saga might finally be reaching its conclusion.

Until then, investors, legal analysts, and the XRP community will be watching closely for Judge Torres’ next move—and what it means for the future of crypto regulation.