The legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) continues to experience delays, with both parties requesting the court to pause their appeals while working on resolving the dispute.
Delay in Legal Proceedings
Recently, both parties have been awaiting a decision on their joint motion to modify the final judgment and agree on financial terms. Lawyer James Filan reported that the SEC will update the appeals court by August 15.
Issues with Settlement Agreement
According to court filings, the SEC filed a notice of appeal from the district court's final judgment on October 2, 2024. Ripple submitted a notice of cross-appeal on October 10. However, the district court denied the recent request for an indicative ruling, stating that it did not demonstrate the 'exceptional circumstances' warranted for modification of the final judgment.
XRP Growth and Investor Interest
Despite the ongoing legal battle, XRP is showing significant growth. Santiment reported that the number of active XRP addresses engaged in the market has averaged over 295K per day over the past week, while the normal daily average over the past three months stood at around 35K-40K. Additionally, there has been an increase in market capitalization and the number of large XRP holders.
The legal proceedings between Ripple and SEC remain ongoing, but the observed growth and sustained investor interest will be crucial for the future development of XRP and its position in the cryptocurrency market.
