TL;DR

• Although Ripple’s CEO has already declared a victory in the legal battle between his company and the US SEC, the actual closure is not yet official.
• However, it seems even closer now as a recent joint motion by both parties was granted.

Defense lawyer James K. Filan published the order from the United States Court of Appeals for the Second Circuit, which acknowledged and granted the joint motion filed by both Ripple and the SEC last week. Recall that the due requested a pause on their individual appeals.

While this moves the case one inch closer to an official conclusion, the US securities watchdog is yet to make a statement. Moreover, Filan informed that the agency has been directed to file a status report on its legal case activities within 60 days of today’s order.

#XRPCommunity #SECGov v. #Ripple #XRP The parties’ joint motion to hold the appeal in abeyance has been granted. The @SECGov is directed to file a status report within 60 days of this Order. pic.twitter.com/mUgEBaJRuU

— James K. Filan (@FilanLaw) April 16, 2025

Previously, Ripple CEO Brad Garlinghouse made a triumphant announcement on March 19 that the SEC would drop its latest appeal, which effectively meant the end of the lawsuit. A narrative that was later confirmed by the company’s Chief Legal Officer.

This allowed Ripple to make big moves on the domestic scene by purchasing a leading prime broker in one of the largest deals in the crypto industry, worth over $1.2 billion.

Although this is expected to be a game-changer for XRP and its price, the asset has yet to react positively. It skyrocketed after Garlinghouse’s statement to $2.6 but has declined to $2.1 as of now. It even dumped to $1.6 during last week’s market-wide crash.

Analysts claim that even official recognition from the SEC that the case against Ripple has been dropped won’t impact XRP as it has already been priced in.