Ripple Doubles Down: Files Bold New Letter Backing Joint Motion for Indicative Ruling

Ripple just upped the ante in its legal chess match—filing a scorching new letter to bolster its push for an indicative ruling. The move signals a tactical escalation as the crypto giant fights to clarify regulatory gray zones (while Wall Street lawyers rack up billable hours).

Here''s the play-by-play:

The Legal Gambit

Ripple''s latest filing isn''t just paperwork—it''s a strategic cannon shot across the SEC''s bow. The company''s pushing hard for judicial clarity on whether its XRP sales qualify as securities transactions.

Why This Matters

A favorable ruling could set precedent for the entire crypto sector. Lose, and we''re back to regulation-by-enforcement theater. Either way, the lawyers win—their yachts need new helipads.

This ain''t over. Ripple''s playing the long game while traditional finance still can''t tell a blockchain from a Excel spreadsheet.

Ripple says it does not want to overturn the summary judgment order

As things stand, neither side wants to overturn nor change the summary judgment order. The order will remain binding on the parties and useful to other courts. The parties request only to modify the relief granted in this Ripple vs. SEC case by dissolving the injunction and adjusting the penalty.

Ripple also made it clear that removing the “obey the law” injunction WOULD not change its responsibility to follow securities laws. Like every other business, the company said that it must always comply with legal regulations, whether or not a court order is in place.

The company wrote, “As one of the earliest crypto industry players sued by SEC, Ripple’s litigation has been the longest fought, reaching both a full merits and remedies determination.”

The SEC and Ripple wind down the case

The case, initially filed in 2020, accused Ripple of conducting $1.3 billion in unregistered XRP sales. Judge Analisa Torres said in July 2023 that secondary sales of the XRP coin are not securities. This was a big win for Ripple and the crypto industry as a whole.

However, the judge also said that selling XRP to investors during funding rounds was the same as selling stocks because the tokens were given as compensation for investing in a business. Judge Torres later said Ripple had to pay the SEC a $125 million fine. This happened in August 2024.

Unsatisfied with the case’s outcome, the SEC filed an appeal in October 2024, about one month before the 2024 US presidential election.

In a March 19 X post, Brad Garlinghouse, CEO of Ripple, said that the SEC was dropping the appeal. He also released a video message praising the decision as the official “ending” of the case.

As reported by Cryptopolitan, on June 12, the SEC and Ripple also joined forces to file a motion in a Manhattan district court. Both sides asked the court to release the $125 million civil penalty against Ripple from escrow. Under the proposal, $50 million would go to the SEC, while the remaining $75 million would be returned to Ripple.

Meanwhile, as the case between Ripple and the SEC is going on, the XRP ledger has shown strong signs of growth. This covers both a user and a key stakeholder point of view. Santiment said that over 295K active XRP addresses have been trading in the market every day on average for the past week.

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