XRP News Today: Ripple SEC XRP Lawsuit Appeals Process Paused for Potential Settlement

Ripple and the U.S. Securities and Exchange Commission (SEC) have jointly requested a pause in the appeals process related to the XRP lawsuit. This request comes as both parties seek to address a pending motion in the district court, which could potentially resolve the ongoing legal battle. The SEC's opening brief was filed on January 15, 2025, but before Ripple's response was due, the parties jointly asked the court to halt the appeals process. This move is significant as it indicates a willingness from both sides to potentially reach a settlement or resolution outside of the appeals court.

The request to pause the appeals process was made due to a pending motion in the district court. This motion could have a significant impact on the outcome of the case, and both parties are likely seeking to address it before proceeding with the appeals process. The court has asked for additional information from both parties, which could further delay the appeals process. However, this delay could also provide an opportunity for both sides to negotiate a settlement or resolution that would end the legal battle.

Ripple has also filed a supplemental letter to support the motion, affirming that it joins the SEC's motion "in full." In the letter, Ripple urges Judge Torres to consider the pending motion in the district court and to pause the appeals process until it is resolved. This move by Ripple indicates that the company is willing to work with the SEC to find a resolution to the case, rather than continuing to fight it out in the appeals court.

The joint request to pause the appeals process comes as both parties continue to fight to end the XRP case. The SEC has been seeking to have XRP classified as a security, while Ripple has argued that it is a currency. The outcome of this case could have significant implications for the cryptocurrency industry, as it could set a precedent for how other cryptocurrencies are classified and regulated. The pause in the appeals process could provide an opportunity for both sides to negotiate a settlement or resolution that would end the legal battle and provide clarity for the industry.