The high-stakes legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) is entering a critical phase as June 16 approaches. This date marks an important deadline—not for the lawsuit’s resolution, but for the parties involved to provide a status update to the U.S. Court of Appeals. With both Ripple and the SEC waiting in the wings, the coming days could set the tone for how this drawn-out case progresses.

June 16: Not the End, But a Key Milestone

Contrary to social media rumors suggesting June 16 will end the Ripple-SEC lawsuit, experts clarify it is merely a procedural deadline. Judge Analisa Torres, who oversees the case, rejected a previous settlement attempt by both parties about three weeks ago. Since then, neither Ripple nor the SEC has filed a new settlement proposal.

Attorney Fred Rispoli explains that the deadline is for both sides to report on the case’s status. If either party submits a new motion before then, the court proceedings could be delayed by up to 60 days. This possibility introduces some uncertainty into the timeline, but it also indicates that negotiations or legal maneuvers might still be underway behind the scenes.

What’s at Stake?

At the heart of the lawsuit is the classification of Ripple’s XRP token. The SEC alleges XRP is an unregistered security, a claim Ripple vehemently denies. The outcome will not only affect Ripple but could also shape regulatory approaches to cryptocurrencies more broadly.

Bill Morgan, a legal analyst, notes that the case could extend for another two months or longer. Rumors have circulated about a potential settlement involving a $50 million fine and lifting of certain injunctions against Ripple, but no official confirmation has emerged. Until formal filings are submitted, these remain speculative.

XRP Price Reflects Legal Uncertainty

Ripple’s legal situation continues to impact XRP’s market performance. In the 24 hours leading up to this report, XRP dropped 2.2%, trading at approximately $2.25. Market watchers believe that a positive update from the courts around June 16 could provide a much-needed boost to XRP, potentially pushing its price back toward the $2.50 range.

Such a rally would likely hinge on favorable developments, such as a settlement agreement that might lead Ripple to drop its cross-appeal and prompt the SEC to withdraw its appeal regarding programmatic sales of XRP. Additionally, the broader market awaits news on a possible spot ETF approval, which could further influence XRP’s trajectory.

What Comes Next?

With the June 16 deadline looming, investors and legal observers will closely watch for new filings or motions. If neither side acts, the appeal and cross-appeal process will proceed, requiring Ripple to submit further legal briefs. However, if a motion is filed, it could push the case’s timeline back, extending the uncertainty.

Ultimately, while June 16 is an important date, it does not mark the lawsuit’s conclusion. Instead, it serves as a checkpoint that could signal renewed negotiation efforts or set the stage for continued courtroom battles.

For now, XRP’s future depends on the unfolding legal drama and the strategic decisions of both Ripple and the SEC. The market remains cautious but hopeful that a resolution, or at least clearer direction, may soon be within reach.