Ripple and SEC Submit Joint Motion to Halt Appeals: XRP Rises Above $2 Again
Ripple Labs (XRP) and the US Securities and Trading network Commission (SEC) have jointly requested a 60-day suspension of their appeals and cross-appeals, bringing the protracted dispute closer to a potential settlement.
The joint request indicated that Ripple and the SEC have reached a provisional agreement, subject to SEC approval, aimed at resolving the legal fight, encompassing the SEC’s appeal and Ripple’s ensuing cross-appeal.
JUST IN:
THE US SEC AND RIPPLE SUBMIT JOINT REQUEST TO HALT APPEALS TO FINALIZE SETTLEMENT
GET READY $XRP
— Amonyx (@amonbuy) April 11, 2025
Ripple’s Nearly 5-Year Legal Conflict With The SEC Approaching Conclusion
The submission from yesterday (April 10) stated, “Pausing the proceedings would preserve judicial and party resources while the parties seek a negotiated resolution to this matter.”
The contest between SEC and Ripple Labs represents the most significant legal conflict in the history of crypto asset. It has persisted for almost five years since the regulatory body initiated a lawsuit against Ripple in December 2020 for the sales of XRP tokens, which the regulator contended violated federal securities laws.
The case has garnered considerable attention over the five years, remaining constantly in the public spotlight. The core issue has consistently revolved around whether the native crypto token of Ripple, XRP, ought to be classified as a financial security.
Following prolonged delays, the case experienced a notable turn in Ripple’s favor after Donald Trump’s victory in the US Presidential election. Since Trump took office in January 2025, the SEC has adopted a more positive approach towards digital assets.
Since the onset of the year, the SEC has withdrawn lawsuits against several cryptocurrency companies, including Coinbase, Uniswap, and Kraken.
While the central issue of whether digital assets qualify as securities had been vital in numerous SEC lawsuits, the agency’s new leadership has shifted focus towards identifying cryptocurrencies that do not.
The SEC also clarified last month that meme coins are not deemed securities. It emphasized that individuals engaging in unlawful activities or fraud would still face accountability, with the law enforced fully against them.
— Brett (@Brett_Crypto_X) April 11, 2025
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XRP Turns Optimistic After Updates on SEC and Ripple Halting Appeals
Ripple Labs’ native coin, XRP, has surged back above $2 following the SEC news, increasing roughly 4% from yesterday’s low of $1.92 to its present value of $2.01, according to CoinGecko.
Following the initial report in November 2024 about the SEC’s decision to drop its case against Ripple, XRP soared over 500%, climbing from $0.5 to $3.31 in January 2025.
The information was what the Ripple community had been eagerly anticipating for almost five years, and the jump in XRP’s price was unprecedented. Over the years, XRP holders speculated that the SEC’s ongoing battle with Ripple was hindering the price, with many asserting it could have been a $100 token without the legal troubles.
In tandem with the SEC settlement announcement, XRP is also positioned as a leading candidate for a potential spot ETF listing. As of April 8, 11 major asset managers have applied for a spot XRP ETF. Among these are Bitwise, 21shares, Grayscale, and Franklin Templeton.
Concerns arose about XRP maintaining the $2 threshold; losing it would mean significant base level wouldn’t appear until $1. Currently, $2 has remained stable, with numerous uptrend drivers potentially pushing it back towards its historical peak of $3.3.
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The SEC and Ripple Labs have submitted a joint request to pause appeals, prompting speculation about an impending settlement
- After a lengthy five-year legal saga, a resolution between Ripple and the SEC appears to be within reach
- Following the developments, XRP has risen above $2, with many anticipating a surge to $10 next
- 11 of the largest asset management firms have now submitted for Spot XRP ETF offerings
The article Ripple And SEC File Joint Request To Suspend Appeals: XRP Surges Back Above $2 first appeared on 99Bitcoins.
