Ripple Labs has submitted a new supplemental letter to Judge Analisa Torres in the Southern District of New York, reinforcing its push to finalize a negotiated settlement with the U.S. Securities and Exchange Commission (SEC). This latest filing marks another step toward ending the long-running legal battle over XRP’s regulatory status.
The update was first shared by prominent crypto legal analyst James K. Filan on X, who posted images of the court document filed on June 17, 2025 (Dkt. 988). In the letter, Ripple joins the previously submitted joint motion with the SEC and provides further clarification to support the request for an indicative ruling.
Ripple Maintains Respect for the Court’s Prior Rulings
In the letter, Ripple makes clear that it is not asking the Court to overturn or revise the Summary Judgment Order issued in July 2023. That landmark ruling found that Ripple’s institutional XRP sales violated securities laws, while programmatic sales on exchanges did not.
#XRPCommunity #SECGov v. #Ripple #XRP @Ripple has filed a Supplemental Letter in support of the Motion for an Indicative Ruling. pic.twitter.com/yPTTugNIj8
— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) June 17, 2025
Ripple states that the settlement does not seek to “absolve” it of compliance with securities laws. Rather, the company remains bound by the Summary Judgment and any future injunctions the Court may impose. The letter emphasizes that Ripple will continue to comply with all legal obligations, whether or not an injunction is ultimately issued.
This clarification aims to dispel any misconceptions that Ripple is attempting to reverse the Court’s previous findings.
Ripple Calls for Practical Resolution in Light of Evolving Regulation
Ripple’s filing urges the Court to consider the broader benefits of approving the settlement. Specifically, it argues that the negotiated resolution would significantly reduce the burden on both Judge Torres’ docket and the Second Circuit’s, without disturbing the substance of the Court’s previous rulings.
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The company also highlights the SEC’s evolving approach to digital assets. Citing the agency’s Crypto Task Force and recent comments on creating a “clearer path” for crypto regulation, Ripple argues that resolving the case through a settlement aligns with the broader regulatory shift.
As one of the earliest crypto companies targeted by the SEC, Ripple contends that it has been subjected to disproportionately drawn-out litigation. The company believes a settlement would place it on equal footing with other firms whose cases were resolved much earlier or dismissed outright.
With the supplemental letter now on record, attention turns to Judge Torres, whose forthcoming decision will determine whether the settlement can proceed. A favorable ruling could finally bring closure to one of the most high-profile legal battles in crypto history, while also setting a precedent for how similar cases might be resolved in the future.
Ripple’s latest filing underscores its commitment to compliance, its desire for finality, and its ongoing efforts to help shape a more consistent and transparent regulatory environment for the broader crypto industry.
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