- Both Ripple and the U.S. SEC have filed motions with the Court of Appeals in order to end the lawsuit.
- The SEC has accelerated its ‘Project Crypto’ to facilitate growth for the U.S.-based web3 companies.
- The XRP/USD pair has signaled macro bullish sentiment with a midterm target of about $6.2.
The United States Securities and Exchange Commission (SEC) has filed a status report with the Court of Appeals to confirm a joint venture with Ripple Labs to end the long-standing lawsuit. According to a post by defense lawyer James Filan, the U.S. SEC filed a status report highlighting that the joint stipulation remains pending, awaiting the court’s approval.
Earlier this month, the U.S. SEC filed a joint stipulation dismissal, thus formally withdrawing the appeals. However, the Court of Appeals has yet to confirm the joint stipulation dismissal, hence the pending status filed by the U.S. SEC.
Previously, Judge Analisa Torres had denied both parties a motion for an indicative ruling, pending the appeals.
Ripple Benefits from SEC’s ‘Project Crypto’
Ripple Labs has significantly benefited from the SEC’s bid to implement President Donald Trump’s crypto agenda. With President Trump committed to making the United States a crypto hub, the SEC has launched a related initiative dubbed ‘Project Crypto’.
On Friday, SEC Chair Paul Atkins stated that the Project Crypto initiative will help businesses grow, protect investors, with a clear aim of making the United States the crypto capital of the world.
Ripple has already made strategic moves to enhance mainstream adoption of XRP through legal means. For instance, the Ripple USD (RLUSD) has grown to a market cap of about $666 million and a 24-hour average volume of about $187 million.
Notably, the mainstream adoption of RLUSD plays a crucial role in the on-chain burns of XRP, which already has a fixed maximum supply.
Related: XRP Analysts Target $10.47 as Long-Term Bullish Cycle Persists
What’s the Midterm Target for XRP Price?
With the regulatory clarity achieved by Ripple, the XRP price has signaled the onset of its 2025 parabolic rally. The large-cap altcoin, with a fully diluted valuation of about $314 billion, reached its all-time high of about $3.65 in mid-July 2025, fueled by renewed demand from institutional investors.
In the four-hour time frame, XRP price has been forming a macro bullish trend with a midterm target of $6.2, which coincides with a 1.618 Fibonacci extension based on the Elliott Wave principle. Notably, the third wave in an Elliott Wave principle often records at least 1.618 of the first wave.
Related: XRP News: Ripple No Longer a “Bad Actor”; SEC Grants Key Waiver After Lawsuit Ends
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