Big News For XRP? Ripple and SEC Officially Halt Appeal. Here’s What You Need to Know

The legal battle between Ripple Labs Inc. and the U.S. Securities and Exchange Commission (SEC) has taken a significant turn as both parties have filed a joint motion to pause the appeals process.

Crypto influencer Amelie reported the development on X, highlighting that the motion to hold the appeal in abeyance was filed based on a mutual agreement to settle the case.

According to court documents submitted to the U.S. Court of Appeals for the Second Circuit on April 10, 2025, the SEC, Ripple Labs, and individual defendants Bradley Garlinghouse and Christian A. Larsen jointly requested that the ongoing appeal and cross-appeal be placed on hold. The reason cited is that the parties have reached an “agreement-in-principle” to resolve the underlying case, pending formal approval by the Commission.

Amelie emphasized in her post that this development means no briefs will be filed on April 16, the date previously set for Ripple’s response and the opening briefs for Garlinghouse and Larsen. The court issued a scheduling order on January 31, 2025.

Settlement Pending Internal SEC Approval

The joint motion further explains that the parties seek additional time to obtain the SEC’s approval of the proposed settlement. If approval is granted, the Commission may seek an indicative ruling from the district court to formally conclude the matter. Until then, both the appeal filed by the SEC on October 3, 2024, and Ripple’s cross-appeal filed on October 10, 2024, will remain in abeyance.

The filing underscores that holding the appeals in abeyance would conserve judicial and party resources as negotiations proceed. The SEC is required to file a status report within 60 days of the stay order to update the court on the progress of the potential resolution.

Next Steps and Implications for XRP

This latest action stems from the long-standing litigation initiated in December 2020, when the SEC filed a lawsuit against Ripple Labs, alleging that its sales of XRP constituted an unregistered securities offering. Ripple and its executives have maintained that XRP does not meet the definition of security and challenged the SEC’s claims in court and the broader public discourse.

While the “agreement-in-principle” details have not yet been made public, the joint motion signals that both parties are actively working toward a final resolution. The involvement of the SEC’s internal approval process suggests that this proposed settlement is at a critical stage.

Many legal experts in the crypto community interpreted the decision to halt the appeals process as a significant milestone. Although the outcome is contingent upon internal review by the Commission, the motion confirms that the parties are no longer pursuing continued litigation at this time.

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