- Judge Torres denied the earlier motion in May, citing a lack of “exceptional circumstances.”
- The SEC filed a new status report on June 16 asking for a stay of the appeal.
- At the time of this filing the motion is still pending and the court has not yet issued a decision.
The ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) has entered another phase of delay.
Both parties have requested that the United States Court of Appeals for the Second Circuit stay proceedings — this time through August 15, 2025 — while they pursue an out-of-court resolution.
The request follows a series of developments in the case, including unsuccessful motions, revised settlement proposals, and continued efforts to vacate an existing injunction against certain Ripple activities.
SEC and Ripple seek settlement and vacatur of injunction
Ripple and the SEC jointly asked the district court to vacate a permanent injunction previously imposed on Ripple Labs and to reduce the monetary judgment from $125 million to $50 million.
That proposal is part of a broader effort to resolve the dispute through settlement rather than continue a lengthy appeals process.
The matter traces back to April 2025, when both sides filed a request for an “indicative ruling” to modify the final judgment, aiming to allow Judge Analisa Torres to revisit the court’s original orders in light of ongoing settlement talks.
On May 13, however, Judge Torres denied the request, finding the motion did not meet the required standard of “exceptional circumstances” necessary to alter a final judgment under Rule 62.1.
Despite that setback, Ripple and the SEC returned with a revised motion on June 12, again asking the court to reconsider the existing injunction and accept a reduced settlement amount of $50 million.
As of this filing, that motion remains pending and the court has not yet issued a ruling.
SEC files status update urging stay through August 15
On June 16 the SEC filed a new status report asking the appeals court to pause the appeal at least until August 15.
The report argues that continuing with the appeal during this interim period would be inefficient and potentially unnecessary if the district court ultimately grants the joint motion.
The requested pause has not yet been granted and remains under consideration in the Second Circuit.
A similar stay request was made earlier in the year, underscoring both parties’ shared interest in negotiating a resolution rather than prolonging litigation.
The strategy appears focused on conserving resources and avoiding a protracted appeals process that could stretch into 2026 without a resolution.
XRP price steady amid legal uncertainty
Despite the legal developments, XRP has shown resilience in the market.
According to the most recent data, XRP is trading around $2.21, reflecting a modest uptick over the past 24 hours. The token’s market capitalization is currently about $130.5 billion.
Market observers note that a favorable court outcome could remove obstacles to Ripple’s business operations and provide renewed momentum for XRP’s performance.
No final outcome has been reached yet, but if the district court agrees to vacate the injunction and approve a $50 million settlement, it could mark a turning point in the long-running regulatory dispute.
All eyes remain on Judge Torres’ forthcoming decision and its potential impact on Ripple and the broader regulatory environment for cryptocurrencies.