After a decade of legal back-and-forth, the long-running case between Ripple and the U.S. Securities and Exchange Commission (SEC) is finally entering its final stage. With so much at stake, the outcome could shape Ripple’s future and bring long-awaited clarity to crypto regulations.
While the case appears to be nearing a conclusion, there’s still one major hurdle left. Crypto lawyer James Farrell recently explained what’s happening behind the scenes in the XRP lawsuit.
According to him, Ripple isn’t just looking to settle with the SEC – it’s also requesting an “indicative ruling” from Judge Analisa Torres. This type of ruling would allow the judge to revise her earlier decision to make it clear that Ripple can legally sell XRP privately. This step is crucial for Ripple’s plans to go public through an Initial Public Offering (IPO).
Farrell points out that without this specific ruling, Ripple has almost no chance of going public in the next few years. While a settlement could bring legal closure, only the indicative ruling would open the door for new business opportunities – especially listing Ripple shares on U.S. stock markets.
Although the appeals process is currently paused, Farrell warns that things could still get delayed. If the SEC doesn’t cooperate or takes too long to respond to Ripple’s request, the case could drag on. Ripple might file both a settlement proposal and the request for the ruling at the same time—either jointly or separately – but even with the SEC’s support, it could take six months or more for the district court to process everything.
If Judge Torres agrees to change her earlier decision, the appeal could wrap up soon after. But if she refuses, the case could go back to the appellate court, potentially pushing the final outcome to early 2027.
Even as the case moves forward, crypto traders are closely watching XRP’s price. Analysts believe that once the lawsuit is resolved, XRP could see a major rally – with $2 now viewed as a possible floor for the next big move.
Over the past week, XRP has surged 20%, reclaiming the $2 level. Analyst Maelius believes this could be just the beginning of a much larger breakout.
According to Maelius, XRP’s price structure on higher timeframes looks strong – especially after bouncing off the 50-week Exponential Moving Average (EMA), a level that has historically marked the start of big rallies.
He says XRP could now be entering the final stage of an Elliott Wave pattern, known as Wave 5, which has a 35% chance of sending the price as high as $10.
No, the lawsuit isn’t over yet. While settlement talks are ongoing, the case hinges on a key ruling for Ripple’s IPO prospects.
Ripple and the SEC have paused appeals to explore settlement, but Ripple seeks a critical ruling for its IPO plans.
Analysts suggest XRP could reach $10, especially if it enters a final upward phase in its market cycle following the lawsuit’s resolution.
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