The long-running legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) has hit another pause. Both Ripple and the SEC have asked the U.S. Court of Appeals for the Second Circuit to delay the appeals process until August 15, 2025. This means the case will not move forward for at least two more months.
But why the delay?
The main reason for this delay is that Ripple and the SEC are trying to finalize a settlement agreement. Earlier this year, in April, the two sides said they were trying to reach a final settlement and asked the court for an “indicative ruling” to help move the process forward.
The idea was to modify an earlier judgment—specifically, to lift the permanent injunction against Ripple and cut down the penalty from $125 million to $50 million.
But in mid-May, that first attempt hit a roadblock. Judge Analisa Torres denied their joint motion, saying it didn’t meet the rare, “exceptional circumstances” needed to change a final ruling.
Not giving up, Ripple and the SEC filed a new motion on June 12, asking the district court to dissolve the injunction against Ripple and to adjust the penalty distribution. Meanwhile, that new motion is still pending, and Judge Torres has not yet given her decision.
On the other hand, the SEC filed a new status report with the Second Circuit Court, asking to keep the case on hold while waiting for the judge’s response by August 15.
If the settlement is approved, it could lift the restrictions on Ripple and potentially boost XRP’s price. Legal experts believe this pause is a strategic move to avoid more costly and lengthy litigation.
As of now, XRP price is trading around $2.21, reflecting a slight rise seen in the last 24 hours, with a market cap hitting $130.5 billion.
SEC vs. Ripple refers to a lawsuit filed by the U.S. Securities and Exchange Commission against Ripple Labs, alleging that XRP was sold as an unregistered security.
The SEC is suing Ripple because it alleges that Ripple conducted an unregistered securities offering through the institutional sales of its XRP token.
There isn’t a fixed “next court date” for a hearing, but the SEC is scheduled to provide a status report to the Second Circuit Court by August 15, 2025, regarding the settlement progress.
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