The United States Securities and Exchange Commission (SEC) and Ripple Labs have filed a crucial joint motion after their mutual settlement of the lawsuit. According to the filing lodged with the US Court of Appeals for the Second Circuit, both parties want the Appeals to be held in Abeyance, pending the court’s final approval of the resolutions.
With this joint motion, which names Ripple CEO Brad Garlinghouse and Founder Chris Larsen as appellees, the parties have agreed not to take further action in the case. This will ultimately help conserve resources, considering the full agreement by both parties prior to this time.
This filing comes as the regulator dismissed the XRP lawsuit appeal amid a changing or positive regulatory shift in the country. With the call for Abeyance, the expected brief billed for April 16th will no longer be necessary.
It is worth noting that the court document, shared by lawyer James Filan, also states that Ripple must submit a status report within 60 days if the settlement does not get approved.
Both sides agreed to pause the appeal to avoid further legal costs and delays while waiting for the court to finalize their settlement.
With the lawsuit nearing an end, Ripple is shifting its focus toward its business expansion. On April 9, 2025, Ripple Labs acquired Hidden Road, a financial prime brokerage firm, in a $1.25 billion deal.
Analysts believe the move was initiated to strengthen Ripple’s position in the mainstream financial space.
The broader Ripple ecosystem is also pushing for an XRP exchange-traded fund. Most asset managers, including Grayscale Investments, filed in January 2025 to convert its XRP Trust into a full-fledged spot ETF. Since then, the firm’s XRP ETF has been added to the SEC’s review list. This places it as the first fund to reach that stage.
Meanwhile, there is speculation that investment giant BlackRock might join the XRP ETF push in the US.
According to CoinMarketCap data, XRP, the fourth largest cryptocurrency, is trading at $1.90. The coin boasts of a 24-hour trading volume of over $4.9 billion. The price has seen a 3.13% decline in the same period.
The XRP market was recently boosted by NYSE Arca’s approval of the Teucrium 2X Long Daily XRP ETF. Fortunately, this added to the growing momentum around XRP before this bearish capitulation
Notably, crypto analyst Egrag Crypto predicted that the XRP price could rally to $27 drawing on its bullish ecosystem trend.
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