The ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) has reached a critical juncture, with crucial developments that could dictate XRP's future trajectory.

Ashley Prosper, a well-respected figure in the crypto commentary space, recently shared what she believes will be the following stages of this case, including the possibilities of a settlement or a final ruling by Judge Analisa Torres.

According to Prosper, the SEC could file its last reply in the remedies phase of the lawsuit on May 6, 2024. Initially filed under seal, this submission is a precursor to the public release of a redacted version scheduled for May 8.

This step is crucial as it transitions the case closer to a conclusion at the district court level, with Judge Torres potentially issuing a final ruling between July and September 2024.

"The parties could settle at any time during the appeal."

Prosper also discussed the possibility of an appeal should either party find the final ruling unfavorable. This move could prolong the legal proceedings, potentially stretching the two-year resolution timeline.

However, Prosper remains optimistic that an appeal might be resolved quicker than anticipated, emphasizing that a settlement remains a viable endpoint at any process stage.

Despite numerous settlement conferences between Ripple and the SEC, an agreement has yet to be reached. The SEC's apparent reluctance to classify XRP as a non-security has been a significant stumbling block.

As the lawsuit progresses, the implications for Ripple, XRP, and the broader cryptocurrency landscape are profound.

The outcome of this case could set a precedent for how cryptocurrencies in the United States, which means that the next few months are critical for stakeholders across the industry.