Recently, in the ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC), both parties have filed a request in the appellate court to pause the process.
Request to Pause Appeals
In a filing dated June 16, 2025, the SEC requested the court to keep the appeals on hold until at least August 15, 2025. This move is connected to the continuing possibility of a settlement between Ripple and SEC, which could influence the case's outcome.
Status of Agreement Between Ripple and SEC
Earlier this year, both sides reached an agreement in principle to settle the case; however, it requires the district court's approval to amend the final judgment. Under the proposed deal, Ripple would pay a reduced penalty of $50 million, down from $125 million, with the remaining funds returned to the company. The SEC would also agree to lift the injunction against Ripple. Nonetheless, a previous motion for this change was denied by the district court in May, which did not explain why 'exceptional circumstances' justified such modifications.
Market Reaction to Recent News
In light of the news regarding a potential settlement, XRP's price surged by 7% to reach $2.34, although it subsequently experienced a downturn. The current price stands at $2.23.
The legal battle between Ripple and SEC continues to attract interest in financial markets, and the possibility of a settlement could significantly impact both the company's future and the cryptocurrency market.
