Ripple sent a supplemental letter to Judge Analisa Torres on June 17, requesting an indicative ruling to help end the long-running lawsuit with the U.S. Securities and Exchange Commission (SEC). The crypto firm and the SEC filed a joint motion last week to modify the final judgment. Ripple says this move is key to finishing the case without dragging it out further.
The motion asks the judge to lift the injunction and adjust the penalty. Ripple makes it clear that it is not trying to change or erase the court’s earlier summary judgment. Instead, the company wants to dissolve the injunction and settle the matter fairly. The aim is to close this chapter without more court battles.
Ripple says going down this path would scrap any need for an appeal, saving time and sparing everyone the extra-legal cost. It also believes the move would level the playing field. Many other crypto firms have had their SEC cases dismissed or settled more smoothly. Ripple wants the same treatment after years of court battles.
James K. Filan, a defense attorney who often shares case updates, revealed the filing on X, saying, “Ripple has filed a supplemental letter to Judge Torres in support of the joint motion for indicative ruling.”
The letter outlines three main reasons for granting the motion. First, Ripple says the summary judgment will still stand and help guide other courts. Second, it says the new proposal will stop further legal steps in this court and higher courts. Third, Ripple says the deal would match how the SEC handled other crypto firms.
The company also highlights that the proposed reduced penalty of $50 million, instead of the full $125 million, considers the risk of appeal. The rest of the money would be returned to Ripple. This helps wrap things up while still following the law.
Ripple adds that removing the injunction won’t give the company a free pass. It still plans to follow all laws, just like any other business in the space. The SEC and Ripple also sent a status update asking the appeals court to pause until Judge Torres decides on the motion.
Both parties hope Judge Torres will rule soon so they can finally move on. This case has lasted for years, and a final decision could mark a fresh start for Ripple and the crypto industry at large.
