In the most recent update on the legal dispute between **Ripple Labs** and the U.S. Securities and Exchange Commission (SEC), both parties have asked the Second Circuit Court to halt the appeals process until a decision is reached by the district court.
The SEC submitted a status report dated June 16, 2025, to the court, requesting a pause on the appeals process until at least August 15, 2025, when they will provide another update. This request aligns with ongoing discussions between Ripple and the SEC regarding a potential settlement that could alter the course of the prolonged legal case.
Earlier this year, both sides tentatively agreed to settle the case pending approval from the district court. The proposed settlement entails Ripple paying a reduced fine of $50 million, down from $125 million, with the excess funds being returned to Ripple. Additionally, the SEC would lift the injunction against Ripple as part of the agreement.
Despite a previous denial of a motion for this modification in May by the district court, citing a lack of sufficient justification, Ripple and the SEC submitted a new joint motion on June 12. This motion includes additional justifications and seeks an indicative ruling from the court.
Both Ripple and the SEC concur that maintaining the pause on appeals is prudent until a decision is reached by the district court. Should the district court grant their motion, both parties will then seek a limited remand from the Second Circuit to finalize the settlement.
In market developments, the price of **XRP** surged by 7%, reaching a peak of $2.34 before retracing. As of now, the price stands at $2.23.
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