Following a significant development reported by CNF today on Gensler speaks out after SEC withdraws Ripple case appeal, new factors have emerged as the U.S. Court of appeals for the second circuit has approved a joint request from Ripple Labs and the Securities and Exchange Commission (SEC) to pause the ongoing appeal for 60 days, effective April 16, 2025.
This pause is intended to facilitate settlement negotiations between the two parties. The SEC is expected to provide a status update by June 15, 2025. As shared in a tweet by Digital Perspective, SEC will file status report within 60 days (June 16, 2025).
SEC vs Ripple case. The parties’ joint motion to hold the appeal in abeyance has been granted. SEC will file status report within 60 days. (June 16th 2025) Just in time for ISO20022 Fedwire/FedNow implementation. July 14, 2025 Lock in.pic.twitter.com/d6nAuv1E9A — Digital Perspectives (@DigPerspectives) April 16, 2025
According to recent reports, this move follows the SEC’s decision in March 2025 to withdraw its appeal against a previous court ruling that XRP, when sold on public exchanges, does not constitute a security.
However, the SEC has maintained its stance on institutional sales of XRP, leading to a $125 million fine imposed on Ripple, which remains under appeal.
Leadership Changes Influence Regulatory Approach
As CNF highlighted earlier in SEC Leadership shift could reshape crypto regulations in 2025, the shift in the SEC’s approach coincides with changes in its leadership. Acting Chair Mark Uyeda is set to step down, with Paul Atkins, known for his pro-crypto stance, confirmed by the Senate as the new SEC Chair on April 9, 2025. This leadership transition suggests a potential move toward a more crypto-friendly regulatory environment.
XRP Market Responds Positively
While the 60-day pause indicates progress toward a settlement, the outcome remains uncertain. Legal experts suggest that if a settlement is not reached, the case could extend further, potentially impacting the broader crypto market and regulatory landscape. As noted in CoinStats App:
Whether this pause leads to a settlement, a strategic repositioning by either party, or simply a procedural break remains to be seen. Reflecting investor optimism about the potential resolution of the legal battle and the anticipated clarity in regulatory guidelines, the market has responded favorably to these developments. At the time of writing, XRP is trading at $2.09 USD, reflecting a 0.66% drop over the past day and 4.52% over the past week. See XRP price chart below.