- Judge Torres denied the earlier motion in May, citing the absence of “extraordinary circumstances.”
- The SEC filed a new status report on June 16 seeking a stay of the appeal proceedings.
- At the time of this report, that motion remains pending and the court has not yet issued a decision.
The ongoing legal dispute between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) has entered another phase of delay.
Both parties have now asked the U.S. Court of Appeals for the Second Circuit to pause the appeal proceedings, this time through August 15, 2025, while they attempt to resolve the matter out of court.
This request follows a series of developments in the case, including a rejected motion, revised penalty proposals, and continuing efforts to lift an existing injunction against some of Ripple’s activities.
SEC and Ripple seek settlement and injunction relief
Ripple and the SEC jointly filed a motion asking the district court to dissolve the permanent injunction imposed on Ripple Labs and to reduce the financial penalty from $125 million to $50 million.
The filing is part of a broader effort to settle the case rather than continue through a protracted appeals process.
The background to this began in April 2025, when both parties submitted a “suggestion of mootness” or indicative ruling request to modify a final judgment.
The aim was to allow Judge Analisa Torres to review the court’s original orders in light of ongoing negotiations.
However, on May 13, Judge Torres denied that request, finding the motion did not meet the “extraordinary circumstances” standard required to alter a final judgment under Rule 62.1.
Undeterred, Ripple and the SEC returned with a new motion on June 12, again urging the court to reconsider the existing injunction and to approve the revised $50 million settlement figure.
As of this writing, that motion is still pending and the court has yet to rule.
SEC status update urges stay through August 15
On June 16, the SEC filed a fresh status report requesting that the appeal be stayed until at least August 15.
The report argues that continuing the appeal during this interim period would be inefficient and potentially unnecessary if the district court grants the joint motion.
The requested pause has not yet been granted; the Second Circuit continues to consider the request.
Earlier this year, a similar extension was requested, highlighting both parties’ shared interest in seeking a negotiated resolution rather than extended litigation.
The strategy appears aimed at conserving resources and avoiding a lengthy appeal process that could stretch into 2026 without resolution.
XRP price remains steady amid legal uncertainty
Amid the legal developments, XRP has shown relative resilience in the market.
According to the latest data, XRP trades at $2.21, reflecting a modest gain over the past 24 hours. The token’s total market capitalization is currently approximately $130.5 billion.
Market analysts say a favorable court outcome could remove obstacles to Ripple’s business operations and provide fresh momentum for XRP’s performance.
No final result has been reached yet, but if the district court agrees to dissolve the injunction and approve the $50 million settlement, it could represent a turning point in the long-running regulatory dispute.
For now, attention remains focused on Judge Torres’s decision and its potential impact on both Ripple and the broader cryptocurrency regulatory landscape.