Ripple and the SEC have asked that the court continue to hold the lawsuit appeals in abeyance while they await a fresh district court verdict.
Ripple Labs and the United States Securities and Exchange Commission (SEC) have decided to hold off on appeals for now. To this end, they have written a joint status report to the United States Court of Appeals for the Second Circuit. Both parties recently requested that District Judge Analisa Torres amend the final ruling.
This decision may bring Ripple the much-anticipated victory or mar its chance of getting a quick settlement.
What’s Next in the Ripple vs. SEC Lawsuit?
Two months ago, Ripple and the SEC filed a motion to hold the lawsuit appeals in abeyance after they reached a settlement.
Translation: The @SECGov and @Ripple have filed a status report with the Second Circuit and are asking it to keep a pause on the appeals while waiting on a decision from the district court. https://t.co/YEeEjlt5yX
— Eleanor Terrett (@EleanorTerrett) June 17, 2025
The regulatory Commission decided to slash Ripple’s monetary penalty to $50 million and requested that the court lift the injunction that Judge Torres imposed in August.
Notably, this injunction prevented Ripple from selling XRP to US-based institutional participants.
In October 2024, the SEC’s notice of appeal against Ripple was filed under the leadership of Gary Gensler, the Commission’s former Chair. The “Civil Appeal Pre-Argument Statement”, also known as Form C, was sent to the US District Court for the Southern District of New York.
According to its filing, the SEC requested that the court reassess how the law was applied in the initial ruling rather than simply reviewing the outcome. This was in addition to challenging Ripple’s distribution of XRP in exchange for consideration other than cash, an issue that the regulatory body insists requires further legal review.
Not too long after, the blockchain payments firm stepped up its defense by submitting its cross-appeal. In Ripple’s case, its cross-appeal focused on four main legal issues: the features of the alleged securities transactions, the treatment of institutional sales, the clarity of the injunction, and the fair notice defense.
Judge Torres’ Verdict on Ripple and SEC’s Motion to Amend Final Judgment
In the case of amending the final ruling, Judge Torres stated that there was no compelling reason to take such an action, especially if the case were to be remanded to the District court. The SEC and Ripple presented certain “exceptional circumstances” in the recent high-stakes motion to give credence to their request.
As it stands, the condition for getting the court to dismiss the appeals is that Judge Torres agrees to modify the final judgment. The regulator is getting ready to submit another status report by August 15, about two months away. For now, pro-crypto lawyer John E. Deaton does not see Judge Torres rushing to amend the final judgment, although he thinks that she would eventually give in.
Someone posted a comment that said “we get it: you and @freddyriz believe @Ripple and the @SECGov should’ve kissed Judge Torres’ ass more.
That’s not it. In fact, I believe there’s a 70% chance she grants the relief requested and I’ll discuss it more in detail tomorrow. 👇… https://t.co/QXf65N87dR
— John E Deaton (@JohnEDeaton1) June 14, 2025
Meanwhile, XRP XRP $2.21 24h volatility: 2.6% Market cap: $129.86 B Vol. 24h: $4.41 B price has been experiencing some fluctuations in the market. The coin traded at $2.23 at press time, following a 1.57% increase within the last 24 hours, according to CoinMarketCap data. In terms of trading volume, XRP is getting a lot of engagement. Its market cap has reached $131.4 billion, while its trading volume is pegged at $5.19 billion, with a 158.27% increase over the last 24 hours.
A wrap-up to the Ripple versus SEC lawsuit can stir a massive price breakout for the coin.
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