Ripple has submitted a new letter to U.S. District Judge Analisa Torres, reinforcing its request for an indicative ruling in its ongoing legal battle with the SEC. This filing follows the joint re-submission made by both Ripple and the SEC to modify Judge Torres’ final judgment.
The companies are asking the court to eliminate the permanent injunction on Ripple’s future XRP sales and lower the penalty to $50 million. While Judge Torres initially denied this motion, both parties refiled it, citing “exceptional circumstances.” Ripple’s latest letter supports this renewed effort and outlines the scope of its request.
Ripple Clarifies Legal Boundaries
In the supplemental filing, Ripple clearly stated it does not seek to alter the original summary judgment order. The company affirmed that the ruling still binds it and continues to guide other courts. Ripple also emphasized it must comply with federal securities laws, regardless of whether the injunction remains.
Related article: Ripple and SEC Request Another 60-Day Appeal Pause as Judge Reviews Settlement Motion
Ripple argued that granting the indicative ruling would resolve the years-long dispute and ease pressure on both the appellate court and the District Court. It noted the mutual benefits of closing the case and cutting legal costs.
SEC’s Changing Approach to Crypto Weighs In
Ripple pointed to the SEC’s changing stance on crypto enforcement. The agency has dropped several cases, created a Crypto Task Force, and signaled plans to regulate the sector more clearly. Ripple’s legal team believes these developments justify ending the case through a settlement-based ruling.
Former SEC lawyer Marc Fagel criticized Ripple’s letter, saying it doesn’t introduce new arguments. He suggested Ripple submitted it just to silence critics. However, attorney Fred Rispoli viewed the filing as a meaningful step. While he admitted the motion wasn’t compelling, he said it addressed earlier gaps, such as limiting appellate risks and affirming Ripple’s ongoing compliance.
Despite the filing’s limitations, legal experts believe it could succeed. Ripple’s latest move aims to wrap up the lawsuit, relying on shared interests and regulatory shifts to persuade the court.
