The United States Court of Appeals for the Second Circuit has approved a stay of the ongoing legal action between Ripple Labs and the U.S. Securities and Exchange Commission (SEC).
The move, made official on April 16, 2025 by Circuit Judge José Cabranes, reflects a mutual agreement between the parties as they move through the final stages of a possible definitive settlement.
The joint motion to stay the appeal was filed after the SEC and Ripple reached an agreement in principle. With this, the court ordered the SEC to file a status report by June 9, informing the progress of the negotiations.
BREAKING
Ripple vs. SEC may be approaching its final chapter.
The joint motion to hold the appeal in abeyance has been GRANTED. The
@SECGov
must file a status report within 60 days.
$ Xrp
Source:
@FilanLaw
pic.twitter.com/vmIoc3fHlB
— John Squire (@TheCryptoSquire)
April 16, 2025
According to legal sources, Ripple has already stated that the SEC has committed to officially withdrawing the appeal. However, for that to happen, the settlement needs to be formally approved by the SEC itself. That approval is contingent on an internal vote involving the agency’s commissioners, including newly sworn-in Chairman Paul Atkins, who was confirmed on April 9.
Atkins is widely considered to be a pro-crypto industry figure, which raises expectations for a favorable outcome of the case. Should the SEC unanimously approve the settlement, Ripple and the SEC are expected to file a joint motion to definitively dismiss the appeal.
Depending on the nature of the terms, there may also be a need to resubmit documents to Judge Analisa Torres, who presided over the original trial in the first instance, for final clarifications on the sentence handed down in 2023.
XRP Technical Analysis
At the time of publication, the price of XRP was quoted at US$2,09, up 1% in the last 24 hours.
XRP started a new uptrend after establishing support above $2,00. The cryptocurrency cleared the $2,20 resistance but corrected lower near $2,00. XRP price now shows potential to move up to $2,45 in the near term. If the buying momentum continues, the next relevant target is in the $2,80 region.
On the other hand, if there is a pullback below $2,20, the closest support is at $1,60. Price behavior will continue to depend on the official conclusion of the agreement and the reaction of the institutional market.