The U.S. Securities and Exchange Commission (SEC) and fintech giant Ripple Labs agreed to pause their appeals in the ongoing legal battle over the XRP token, pointing to a possible settlement in the near future.
In a joint court filing on April 10, both sides asked the court to place the proceedings in “abeyance,” a legal term that signals a temporary halt while they attempt to resolve the case outside of court.
Ripple vs. SEC
Ripple CEO Brad Garlinghouse had previously declared the litigation essentially over last month, but this filing marks the first official sign that the SEC may be willing to step back.
Defense lawyer James Filan said on social media that no response to the SEC’s January brief will be filed by the April 16 deadline.
#XRPCommunity #SECGov v. #Ripple #XRP The parties have filed a joint motion to hold the appeal in abeyance based on the parties’ agreement to settle. The settlement is awaiting Commission approval. No brief will be filed on April 16th. pic.twitter.com/OVKPCIh43H
— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) April 10, 2025
Some observers speculate that the SEC is waiting for Paul Atkins, a former commissioner expected to take the helm as chair, to finalize the settlement. The decision could close one of the most high-profile enforcement actions in crypto’s history.
Read more: Ripple Price Analysis: Could XRP Maintain $2 As Its Key Support Level?
XRP Price Could Explode Upward
Meanwhile, XRP continues to gain traction in financial markets. The New York Stock Exchange recently approved the Teucrium 2x Long Daily XRP ETF, a leveraged fund that tracks the asset’s price through derivatives.
It’s the first XRP-related ETF in the U.S. and has contributed to a nearly 11% rally in the token’s price, now hovering near $2. The odds of a spot XRP ETF being launched have also surged based on the SEC’s dropping its anti-crypto stance.
On top of all this, Standard Chartered’s Geoffrey Kendrick predicted the token could surpass Ethereum’s market cap by 2028, citing its growing role in global payments. If the SEC case is resolved, XRP could be better positioned to chase that forecast.
According to analysts led by Kendrick, the token’s price could move to $12.5 by the end of 2028 and as much as $5.5 by the end of this year, meaning it could nearly triple from its current level.
Just recently, Ripple acquired the prime broker firm Hidden Road for a massive $1.25B deal, one of the largest purchases in the crypto market. It’s actually the first time a crypto-native company owns a global broker platform.
Read more: Fartcoin Explodes 220% in a Month: Details
As CryptoMode reported, Ripple also partnered with Chipper Cash to expand its crypto-powered payments in Africa.
