The legal dispute between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) may be nearing a resolution.
A federal appeals court has agreed to pause the SEC’s appeal in the closely watched case, granting a joint request from both parties as they move to finalize a settlement.
Circuit Judge José Cabranes signed the order on April 16, placing the case “in abeyance,” or on hold, according to an update shared by attorney James Filan.
#XRPCommunity #SECGov v. #Ripple #XRP The parties’ joint motion to hold the appeal in abeyance has been granted. The @SECGov is directed to file a status report within 60 days of this Order. pic.twitter.com/mUgEBaJRuU
— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) April 16, 2025
The SEC must provide a status update by June 9, according to the court filing, following an agreement-in-principle between Ripple and the regulator, which accused the company of selling XRP as an unregistered security when it was still under the leadership of Gary Gensler.
The company has publicly claimed the SEC is prepared to drop its appeal, though that decision still hinges on internal sign-off, including a vote from the Commission, now led by Paul Atkins, a newly confirmed chair seen as more favorable to digital assets.
If approved, the settlement could bring to a close one of the most high-profile crypto enforcement actions in the U.S., with implications for how courts interpret which digital assets fall under securities law. It could also prompt Judge Analisa Torres, who previously ruled in favor of Ripple on key points, to modify or clarify her original decision, depending on the terms of the deal.
Ripple’s XRP ETF Approval Odds Remain Stable
Despite the recent development, odds for the potential approval of a spot XRP ETF in the United States this year have remained steady on the crypto betting platform Polymarket, with traders there weighing a 77% chance of approval this year.
Changing the approval date to July 31 sees traders weigh a 27% chance, a huge plunge from a perceived 77% back in late December. Similarly, the odds of approval later this year are also down from an 86% high.
Nevertheless, the perceived likelihood of the price of XRP rising in the near future continues to increase. As reported, Standard Chartered has recently predicted that the token could surge to $12.50.
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