SEC’s Ripple Lawsuit Approaches Critical June 16 Deadline for Updates
The Ripple lawsuit against the US Securities and Exchange Commission (SEC) is nearing a key deadline on June 16. The SEC has a 60-day window to update the US Court of Appeals. Previously set for April, the deadline was extended after both parties requested a pause in proceedings.
- The SEC must file a status report by June 15.
- Failure to act will result in ongoing appeals, requiring Ripple to submit further briefings.
XRP lawyer Bill Morgan emphasized the importance of this deadline, indicating it could lead to a conclusion in the case. Speculation exists about a potential settlement before the appeal progresses, with some analysts believing an agreement may have been reached between the SEC and Judge Torres, expected to be announced on June 13, 2025.
According to Polymarket data, the chances of XRP ETF approval by the end of 2025 are at 98%, reflecting a 23% increase over the past month despite delays from the SEC.
Market Impact on XRP
XRP is currently trading around $2.2, showing underperformance compared to other altcoins. Technical analysis indicates a possible 19% decline, with a critical support level at $2.13. A drop below this level could see XRP fall to $1.71, which has been a significant support since November 2024.
The Relative Strength Index (RSI) at 43 suggests strong bearish momentum in the market.