A motion of Ripple Labs and the U.S. Securities and Exchange Commission (SEC) that paused the four-year-long courtroom lawsuit has been submitted.
A joint motion was filed by the US Court of Appeals for the Second Circuit, and both parties confirmed that both sides are standing down for now. The motion is an appeal to the initial decision, which means that neither party will have to file a lawsuit before the final decision is reached.
This change of pace comes after the SEC voluntarily dropped its appeal, signaling a major turn in regulatory attitudes. The motion, which names Ripple CEO Brad Garlinghouse and co-founder Chris Larsen as appellees, reflects a mutual agreement to halt proceedings. The filing states no party would be harmed by the delay, and all involved have agreed to it.
If the settlement stalls for any reason, Ripple must file a status update within 60 days. But for now, the brakes are firmly on. The April 16 briefing date? Scrapped.
From Courtroom to Boardroom: Ripple’s Billion-Dollar Deal
While lawyers wrap up loose ends, Ripple is already plotting its next big moves. On April 9, 2025, the company made headlines again—this time for spending a jaw-dropping $1.25 billion to acquire Hidden Road, a prime brokerage firm. Analysts say this isn’t just a flex; it’s a calculated move to cement Ripple’s position in mainstream finance.
Just days after the legal dust began to settle. It shows Ripple isn’t just playing defense—it’s taking control of the narrative. The acquisition may pave the way for tighter connections between crypto assets and the global financial system.
Meanwhile, whispers in the market hint that Ripple’s eyes are on bigger things. The push for an XRP exchange-traded fund (ETF) is picking up steam. In fact, Grayscale Investments was one of the first out of the gate in January 2025 to try converting its XRP Trust into a spot ETF. The SEC is reviewing the application, and Grayscale’s proposal is already the furthest along in the process.
$27 Dream and $4.9 Billion Reality
Even with some bumps in the price, XRP isn’t exactly limping. The token is still the fourth-largest cryptocurrency and is currently priced at $2.01. It has gained 2% over 24 hours, but the trading volume remained strong at over $4.14 billion.
Momentum got another boost when NYSE Arca approved the Teucrium 2X Long Daily XRP ETF. This gives traders an aggressive option to bet on XRP’s movements and signals more institutional interest. That interest could expand further if rumors about BlackRock entering the XRP ETF race prove true.
One market analyst, Egrag Crypto, went all in with optimism, saying, “XRP – $27 In 60 Days,” based on bullish activity across its ecosystem. It’s a bold prediction—but in the volatile world of digital assets, bold isn’t out of place.
No More Court Dates—Just Waiting Game
The ongoing legal wrap-up is more than a truce—it’s a possible end. Ripple has agreed to pay a $50 million civil penalty as part of the settlement and will withdraw its cross-appeal. The proposal still needs to pass through an internal SEC review, and if it clears, the next step could involve an “indicative ruling” from the original trial court in New York.
This lawsuit dates back to December 2020, when the SEC claimed Ripple’s XRP sales were unregistered securities. A partial ruling in July 2023 sided with the regulator on institutional sales but gave Ripple a win on secondary market activity. That judgment set off the appeal chain now being paused.
Ripple’s legal team has emphasized that pausing the appeals process is not just strategic—it conserves resources for all parties and doesn’t tip the balance in anyone’s favor. If the current plan sticks, both sides will have 60 days post-order to file progress updates and close the book.