Ripple and SEC Make Surprise Joint Move: Both Sides Request Delay
The US Securities and Exchange Commission (SEC) and Ripple Labs have jointly requested that their appeals be placed on hold by the Second Circuit Court of Appeals. The delay is due to their pending decision from the court regarding their revised request for an indicative verdict. In the protracted SEC vs. Ripple case, the filing is the most recent in a string of court rulings.
Ripple vs. SEC: Final Verdict Could Shift as Judge Weighs New Filing
The plea to halt the appeals was submitted on June 16, according to court records. Both parties moved to have the injunction lifted in the Manhattan District Court. The request was filed on June 12 in response to District Judge Analisa Torres‘ earlier denial. Federal Rule of Civil Procedure 60(b) procedural errors were identified in that refusal.
For a final verdict to be modified, “exceptional circumstances” must exist. The amended filing now claims such facts, which is noteworthy. Judge Torres is still considering the motion at this time. As previously stated by lawyer Fred Rispoli, the judge’s judgment is probably going to be made by the end of next week.
In light of the foregoing, the parties are in agreement that this Court should continue to hold the appeals in abeyance.
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XRP’s Future on the Line as Ripple Awaits Court’s Next Move
The result might have far-reaching effects. Ripple would have to wait until 2026 for another chance to request dismissal if they were unable to obtain an indicative verdict. In order to keep the court informed of any new developments in the settlement process, the SEC has additionally suggested that it submit another status report by August 15, 2025.
Even though the case is still pending, its outcome might help XRP escape its present legal purgatory. Additionally, market observers think that this might lead to an altcoin rise.
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