- Ripple Labs and the SEC have filed a joint motion to pause their lawsuit appeal while awaiting final court approval of their settlement.
- As the legal battle winds down, Ripple focuses on business expansion, including a major acquisition and push for an XRP ETF.
Ripple Labs and the United States Securities and Exchange Commission (SEC) have reached a pivotal moment in their ongoing legal battle over XRP, filing a joint motion with the US Court of Appeals for the Second Circuit. Following their mutual settlement of the case, both parties have requested that the court place the appeal in abeyance, effectively pausing any further legal action until the court grants final approval of their agreement.
This decision comes as a relief to both Ripple Labs and the SEC, as it will help conserve resources and minimize further legal costs. By filing this motion, Ripple’s CEO Brad Garlinghouse and founder Chris Larsen have been named as appellees, signaling a clear path forward for the company as it begins to turn its focus away from the legal dispute.
Also read: Ripple Scores Legal Win: SEC Appeal Halted as XRP Advances Toward ETF and $1.25B Acquisition
The SEC’s decision to drop the appeal amid a shifting regulatory environment is a major development. This move not only provides both sides with the opportunity to finalize their resolution but also eliminates the need for the scheduled April 16th brief. However, Ripple is required to submit a status report to the court within 60 days if the settlement is not approved, ensuring transparency during this waiting period.
As the lawsuit nears its conclusion, Ripple Labs is already shifting its attention to business expansion. On April 9, 2025, Ripple announced the acquisition of Hidden Road, a financial prime brokerage firm, in a $1.25 billion deal. This acquisition is seen as a strategic effort to strengthen Ripple’s position in the traditional financial space and expand its influence.
The company is also making significant strides toward mainstream adoption with the ongoing push for an XRP exchange-traded fund (ETF). In January 2025, Grayscale Investments filed to convert its XRP Trust into a spot ETF, making it the first fund of its kind under SEC review. Rumors suggest that BlackRock, one of the world’s largest asset managers, could soon join the effort, signaling growing institutional interest in XRP.
As of now, XRP’s price sits at $1.90, with a 24-hour trading volume exceeding $4.9 billion. Although it has experienced a slight decline, analysts remain bullish, with some predicting a future price surge to $27. This optimism is further fueled by recent moves such as NYSE Arca’s approval of the Teucrium 2X Long Daily XRP ETF, signaling a brighter future for Ripple and its digital asset.