- Ripple and the SEC have jointly asked the court to pause appeal proceedings until August 15, 2025.
- The delay allows Judge Torres to rule on a motion to modify Ripple’s penalty and injunction.
- A favorable ruling could lead to a final settlement and withdrawal of both parties’ appeals.
Ripple Labs and the U.S. Securities and Exchange Commission (SEC) have filed a joint request to extend the pause on their appeal proceedings until August 15. The move comes as both parties await a critical ruling from the district court on their renewed attempt to modify the final judgment and finalize a settlement in their multi-year legal battle.
The filing, made just before the June 16 deadline, signals a temporary hold in the appeals process and raises hopes for a final resolution to the XRP lawsuit.
Settlement Talks Prompt Appeal Delay
This marks the second time Ripple and the SEC have jointly asked the U.S. Court of Appeals for the Second Circuit to put the case on hold. In April, they received an initial 60-day pause while they sought a district court ruling that would allow them to amend an earlier judgment.
Related: Ripple and SEC Pause Appeal, Wait For Key Ruling on a New Settlement Deal
That request centered on lifting a permanent injunction against Ripple’s institutional XRP sales and reducing its financial penalty from $125 million to $50 million.
However, in mid-May, U.S. District Judge Analisa Torres denied their first joint motion. She cited a lack of “exceptional circumstances” required to alter a final judgment under federal procedure.
Second Motion Still Pending
Undeterred, Ripple and the SEC submitted a new motion on June 12, again asking the district court to dissolve the injunction and approve the reduced penalty. They argue that new circumstances justify the proposed changes. As of now, Judge Torres has not issued a decision on the revised motion.
Meanwhile, the parties have filed a status report with the Second Circuit, requesting that the appeal remain in abeyance until August 15 to allow time for the judge’s ruling.
If Judge Torres approves the indicative ruling, the case would be temporarily returned to the district court so she can modify the original judgment. After that, Ripple and the SEC plan to withdraw their appeals, effectively ending the case.
If the motion is denied again, the parties may attempt a further appeal or proceed with litigation. Until a ruling is made, no further movement in the appeals process is expected.
Related: XRP (XRP) Price Prediction For June 18, 2025
XRP To Surge Post-Litigation?
Meanwhile, the token closely linked to Ripple’s case XRP is currently trading at $2.21, a slight 0.2% increase over the last 24 hours, reducing its loss to 7.4% in the past month. The token’s market capitalization now stands at $130.2 billion.
Crypto analyst Mikybull Crypto says XRP is mirroring its 2017 bull pennant setup, which preceded a 1,300% rally to $3.40. “I have seen this movie before,” he posted on June 17, noting the weekly chart shows a similar formation.
A breakout could push XRP up 530% to $14. This outlook supports earlier predictions of XRP hitting $27 based on fractals, Elliott Wave, and Fibonacci analysis.
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