Ripple Labs and the U.S. Securities and Exchange Commission (SEC) have jointly filed a motion with the U.S. Court of Appeals for the Second Circuit, requesting that the ongoing appeal in their legal battle be placed in abeyance. This motion follows the resolution of their lawsuit and aims to pause any further action in the case until the court grants final approval to their settlement agreement.
The motion, which includes Ripple CEO Brad Garlinghouse and Founder Chris Larsen as appellees, is a strategic move to conserve resources and avoid unnecessary legal costs while awaiting court approval of the settlement terms. Both parties have agreed to suspend any appeals or proceedings, meaning the anticipated brief scheduled for April 16, 2025, will no longer be required.
As part of the settlement agreement, Ripple is obligated to submit a status report to the court within 60 days if the settlement is not approved. This filing marks a significant shift in the legal landscape surrounding Ripple’s ongoing battle with the SEC.
Ripple Shifts Focus to Expansion
With the lawsuit nearing its conclusion, Ripple is shifting its focus toward business growth. On April 9, 2025, Ripple announced its acquisition of Hidden Road, a financial prime brokerage firm, in a $1.25 billion deal. Analysts suggest that this move is designed to bolster Ripple’s position in the mainstream financial space.
In addition, Ripple’s push for an XRP exchange-traded fund (ETF) continues to gain momentum. Grayscale Investments, one of the leading asset managers, filed in January 2025 to convert its XRP Trust into a full-fledged spot ETF. The SEC has added the XRP ETF to its review list, marking it as the first fund to reach this stage. Speculation is also growing that investment giant BlackRock may join the XRP ETF movement in the U.S.
XRP Price Outlook
XRP, currently the fourth-largest cryptocurrency, is trading at $1.90, with a 24-hour trading volume exceeding $4.9 billion. While the coin has seen a 3.13% decline in price in the past 24 hours, analysts remain bullish on XRP’s potential. Crypto analyst Egrag Crypto has forecasted that XRP’s price could surge to $27, driven by the positive momentum surrounding the XRP ecosystem.
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