XRP News Today: Ripple SEC Pause Appeals for 60 Days to Reach Settlement

Ripple Labs and the U.S. Securities and Exchange Commission (SEC) have jointly requested a 60-day pause in their appeal proceedings, extending the deadline to August 15, 2025. This move is part of their ongoing efforts to reach a settlement in the high-profile legal battle over the classification of XRP as a security. The delay allows for a potential resolution that could significantly impact the future of XRP and the broader cryptocurrency market.

The joint motion filed by Ripple and the SEC seeks to modify the final judgment issued in the case. Originally, the judgment imposed a $125 million civil penalty on Ripple for alleged unregistered securities offerings of XRP. However, under the revised agreement, the parties propose dissolving the original injunction against Ripple, reducing the financial penalty to $50 million, and returning the remaining $75 million in escrow funds back to Ripple. This proposal is contingent on U.S. District Judge Analisa Torres dissolving the permanent injunction she entered on August 7, 2024, and ordering the release of the escrow.

The court's initial rejection of an earlier version of this request in May 2025 highlighted the need for a clear explanation of the "exceptional circumstances" warranting such a significant change. Despite this setback, both parties have continued to pursue a settlement, filing a status report with the Second Circuit Court of Appeals on June 16, 2025. This report requests that the appeals process remain paused, allowing for the district court's ruling on their motion.

The next status update is scheduled for August 15, 2025, and will depend on the district court's decision. If the court grants the requested indicative ruling, the parties are likely to file a motion for a limited remand, asking the district court to permit them to return for the purpose of requesting the modification. If approved, the SEC will receive its reduced fine, Ripple will recover the remaining penalties, and both sides will drop their appeals, effectively ending the legal battle.

The ongoing legal dispute has had a significant impact on the price of XRP, with traders closely following each development. The recent pause in the appeals process has led to volatility in the market, reflecting the serious impact of regulatory actions on cryptocurrency values. The price of XRP has been closely tied to the legal proceedings since the SEC filed its lawsuit in December 2020, highlighting the importance of regulatory clarity for the cryptocurrency market.

The timeline of the Ripple-SEC case includes key dates and filings that have shaped the legal battle. On October 2, 2024, the SEC filed a notice of appeal of the final judgment entered by the district court. Ripple filed a cross-appeal on October 10, 2024, countering the SEC's position. The SEC filed its opening brief in the appeal on January 15, 2025. Both parties sought to stay the appeals process in April 2025, in light of their settlement agreement in principle. On May 8, 2025, Ripple and the SEC reached an official settlement, with a change in the judgment. The district court rejected the first request for modification on May 15, 2025. On June 12, 2025, Ripple and the SEC submitted a joint file for the renewed motion, outlining the "extraordinary circumstances" that comply with Rule 60(b).

The joint request by the SEC and Ripple to pause appeals highlights a pivotal moment in the ongoing legal dispute. The outcome of Judge Torres' indicative ruling will be crucial in determining the future of XRP and the broader cryptocurrency market. The parties await the court's decision, which could potentially resolve one of the most high-profile crypto cases in U.S. history.