The legal dispute between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) is advancing to a critical juncture with the latest request.
On June 16, 2025, the SEC submitted a new status report to the U.S. Court of Appeals for the Second Circuit, requesting that the court continue to hold both parties’ appeals in abeyance.
The Commission confirmed it will file a follow-up report by August 15, 2025, pending Judge Analisa Torres’s decision on the parties’ revised joint settlement motion in the district court.
The filing comes amid growing anticipation within the XRP community. Attorney James K. Filan shared the update publicly, highlighting that the current pause in appeals hinges on the court’s response to the pending motion for an indicative ruling.
This procedural step allows a district court to signal its intention to reconsider or modify a judgment, even when an appeal is already underway.
#XRPCommunity #SECGov v. #Ripple #XRP In light of the pending motion for an indicative ruling, the parties have requested that the Second Circuit continue to hold the appeals in abeyance, with the @SECGov to file a status report by August 15, 2025.https://t.co/7oQvL5Rx7U
— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) June 17, 2025
Background of the Current Situation
Ripple and the SEC previously submitted a joint motion in May to resolve key issues relating to institutional XRP sales. That proposal was rejected shortly thereafter by Judge Torres, who stated that the request lacked sufficient justification.
In response, the parties submitted a more detailed second motion on June 12, which included additional arguments intended to meet the court’s standards for reconsideration. The filing currently under review is based on that revised motion.
Appeals Held as Judge Reviews Revised Proposal
The June 16 deadline for filing the status report has loomed over the lawsuit for weeks now, and the SEC’s latest status report references this ongoing district court development, stating that “in light of the developments described below,” it would be appropriate for the appeals court to continue holding the case.
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Both the Commission and Ripple maintain that awaiting Judge Torres’s response could avoid unnecessary appellate litigation, streamline proceedings, and potentially result in a full resolution of the case.
Awaiting a Key Decision
Should Judge Torres indicate she is inclined to grant the revised motion, the appeals court may then formally remand the case to the lower court, allowing for final approval. If the motion is denied, litigation will likely resume in the Second Circuit, as many expected this outcome on June 16 until both parties refiled their joint motion addressing the judge’s concerns.
John Deaton, another well-respected attorney, has predicted a 70% chance that the judge will approve the motion. Until then, the SEC’s request to maintain the pause until August 15 ensures that no new appellate steps will occur while the district court weighs its next move.
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