We described the current state of the Guccifer 2.0 purported disclosures as leaking documents of minimal intelligence value for possible political points in the U.S. and reinforcing Kremlin themes to a Russian audience about the failings of democracy and the West. Here, we outline a couple of different trajectories for the Guccifer 2.0 persona and identify some of the indicators that would help us determine which path we’re on. … To have a substantial impact on the U.S. media, we assess Guccifer 2.0 would have to release documents that otherwise would have been used for higher priority intelligence objectives. If a release like this were to happen, it would be closer to the election as a final coup de grâce to push late media coverage in a way that benefits Russia’s desired outcome. If this scenario is part of a plan, we would expect to see efforts to make Guccifer 2.0 a more trusted interlocutor over the next few months by releasing higher quality documents or verifiable claims that establish his bona fides. However, if some external shock changes the Russian calculus, we might not see that on-ramp. In other words, the on-ramp would be indicative, but a lack of on-ramp does not necessarily preclude this outcome.