XRP News Today: SEC Ripple Lawsuit Awaits Final Court Approval for Dismissal

The U.S. Securities and Exchange Commission (SEC) has submitted a new status report to the Court of Appeals, signaling a potential conclusion to the long-running lawsuit against Ripple Labs over the sale of XRP tokens. This filing confirms the existence of a joint stipulation between the SEC and Ripple seeking to dismiss the appeals, which remains pending final approval from the appellate court [1]. While the SEC has officially withdrawn its appeals, the case is not yet fully resolved, as the court has not given its seal of approval [1].

Judge Analisa Torres, who has played a pivotal role in the case, previously rejected Ripple’s attempt to reallocate the $125 million penalty, which would have redirected $50 million to the SEC and returned $75 million to the company. Despite this rejection, both parties continue to pursue a broader resolution [1]. The stipulation now rests with the Court of Appeals, and if approved, the case will be formally closed [1]. This outcome could set a significant legal precedent for the regulation of digital assets in the United States.

The legal developments have coincided with broader regulatory shifts, including the SEC’s launch of “Project Crypto,” an initiative aimed at fostering the growth of the U.S. cryptocurrency industry under the Trump administration. SEC Chair Paul Atkins has emphasized the program’s goal of balancing innovation with investor protection [1].

Meanwhile, the price of XRP remains under close scrutiny. Analysts have identified key support and resistance levels, with $2.81 being a critical support level based on cost basis distribution data. XRP has been trading in a narrow band between $2.94 support and $3.30 resistance, reflecting investor caution ahead of the final court decision [1]. Technical indicators suggest that the token is near its 20/50/100/200 exponential moving averages, creating a potential resistance cluster. A failure to break above this level could lead to a drop toward $2.90 [1].

The Court of Appeals’ final ruling will determine whether the case is formally dismissed. If approved, this would mark a major turning point in the regulatory landscape for digital assets and could influence future enforcement actions. In the interim, Ripple continues to expand the adoption of its stablecoin, RLUSD, as part of its broader strategy [1].

As the SEC Ripple lawsuit nears its endgame, the financial and legal communities are watching closely for any developments that may trigger volatility in XRP’s price or reshape regulatory approaches to digital assets. The outcome remains pending, but the case has already sparked broader discussions about the classification and regulation of cryptocurrencies in the U.S. legal framework [1].

Source: [1] SEC Ripple Lawsuit Nears Final Court Approval (https://thebitjournal.com/sec-ripple-lawsuit-nears-final-court-approval/)