- Judge Torres rejected the earlier motion in May, citing a lack of “exceptional circumstances.”
- The SEC filed a new status report on 16 June requesting a hold on appellate proceedings.
- At the time of writing, this motion is still pending, and the court has not yet issued a decision.
The ongoing legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC) has entered yet another phase of delay.
Both parties have now requested the US Court of Appeals for the Second Circuit to pause proceedings, this time until 15 August 2025, as they attempt to settle the matter out of court.
This request follows a series of developments in the case, including failed motions, revised penalty proposals, and ongoing efforts to lift an existing injunction against Ripple’s activities.
SEC and Ripple seek settlement and injunction relief
Ripple and the SEC have jointly filed a motion asking the district court to dissolve the permanent injunction imposed on Ripple Labs and reduce the financial penalty from $125 million to $50 million.
This is part of a larger attempt to resolve the case through a settlement rather than continuing with a protracted appeals process.
The background to this stems from April 2025, when the two sides submitted a request for an “indicative ruling” to modify a final judgment.
The aim was to allow Judge Analisa Torres to revise the court’s original orders in light of ongoing negotiations.
However, on 13 May, Judge Torres rejected the request, stating that the motion failed to meet the required “exceptional circumstances” standard needed to modify a final ruling under Rule 62.1.
Despite this setback, Ripple and the SEC returned with a new motion on June 12, again asking the court to reconsider the existing injunction and accept the revised $50 million settlement figure.
At the time of writing, this motion is still pending, and the court has not yet issued a decision.
SEC status update urges suspension until August 15
The SEC filed a new status report on 16 June, requesting that the appeals process be put on hold until at least 15 August.
The report argues that continuing the appeal during this interim period would be inefficient and potentially unnecessary if the district court rules in favour of the joint motion.
The pause has not yet been granted. The request remains under consideration by the Second Circuit.
Earlier this year, a similar delay had been requested, underscoring both parties’ shared interest in resolving the case through negotiation rather than extended litigation.
The strategy appears to be aimed at conserving resources and avoiding a drawn-out appeals process, which could stretch into 2026 without resolution.
XRP price steady amid legal uncertainty
Amid the legal developments, XRP has shown some resilience in the market.
As of the latest data, XRP is trading at $2.21, reflecting a modest rise in the past 24 hours. The token’s total market capitalisation currently stands at $130.5 billion.
Market watchers suggest that a favourable court ruling could potentially remove barriers for Ripple’s business operations and inject new momentum into the XRP token’s performance.
No final outcome has yet been reached, but if the district court agrees to dissolve the injunction and endorse the $50 million settlement, it could mark a turning point in the long-running regulatory conflict.
For now, all eyes remain on Judge Torres’ decision, and its potential impact on both Ripple and the broader crypto regulatory environment.
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