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In the latest update from the ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC), both parties have asked the Second Circuit Court to keep the appeals process paused while they wait for a decision from the district court.
According to a filing dated June 16, 2025, the SEC submitted a status report to the court, requesting that the appeals stay on hold until at least August 15, 2025, when they’ll provide another update. This move comes as Ripple and the SEC continue working through a possible settlement that could reshape the outcome of the long-running case.
Earlier this year, both sides reached an agreement in principle to settle the case, but it requires the district court’s approval to modify 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 Ripple. The SEC would also agree to lift the injunction against the company.
However, a previous motion for this change was denied by the district court in May because it didn’t explain why “exceptional circumstances” justified the modification. Ripple and the SEC have since filed a new joint motion on June 12, providing additional reasons and requesting an indicative ruling from the court.
Until that decision is made, both Ripple and the SEC agree it’s best to keep the appeals paused. If the district court grants their request, both sides would then ask the Second Circuit for a limited remand to finalize the settlement.
On the flip side, XRP price gained 7% and hit a high of $2.34 before hitting a reverse. The price is now sitting at $2.23.
