XRP News: US SEC Requests 2nd Circuit Court to Pause Appeals

Key Insights:

• In latest XRP news, US SEC has requested the appeals court to hold the appeals in abeyance amid a pending indicative ruling motion in the district court.
• Lawyers expect Judge Torres to grant an order modifying the final judgment as the parties seek a settlement.
• XRP price recovery faded as the community reacted to the lawsuit filing and the lack of development towards XRP ETF in the U.S.

XRP News Today: The US Securities and Exchange Commission’s (SEC) request to pause appeals and Purpose XRP ETF approval in Canada were driving speculation in the crypto market.

The XRP community anticipates XRP price to rally after the SEC v. Ripple lawsuit resolution and XRP ETF approval by the U.S. SEC. While the institutional investors’ demand for XRP remained high, experts believe investment would come only when the risks are offset.

US SEC Files to Pause Appeals Amid Pending Order in Another Court

According to a filing in the 2nd Circuit Court dated June 16, the SEC has requested the appeals court to hold the appeals in abeyance. The securities regulator submitted its status report in accordance with the April 16 order, in which the court paused appeals after the parties agreed to settle the long-running lawsuit.

Moreover, the SEC asked the court to give another 60 days to file a new status report by August 15, 2025, due to the injection ruling motion. The parties await an order by District Judge Torres that could eventually resolve the lawsuit.

“Commission and Ripple renewed their joint motion for an indicative ruling, setting forth the exceptional circumstances that warrant the requested modification of the final judgment. No. 20-cv-10832 Dkt. No. 987. As of this filing, that motion remains pending before the district court,” as per the status report.

Judge Torres earlier denied the May 8 indicative ruling motion because the motion did not address whether “exceptional circumstances” warrant the requested modification of the final judgment pursuant to Federal Rule of Civil Procedure 60(b).

XRP News Narrative shows Lawyers Expect Judge Torres to Grant Order Modifying Final Judgment

According to lawyer Bill Morgan, the strongest argument in the joint motion is that a final judgment modification by Judge Torres is required for the SEC v. Ripple lawsuit settlement.

He believes Judge Torres will grant the motion as the parties filed under Rule 60 gave enough reasons justifying modification of the final judgment.

As reported earlier, lawyer Fred Rispoli said “I don’t like this filing based on how obvious it was from Judge Torres’ last ruling that she was pissed.”

However, he asserted that Ripple and the SEC cite enough law for the court to grant it, but the discretion is purely on Judge Torres whether to grant it.

XRP Price: ETF Approval Drives Sentiment

Analyst Egrag Crypto said the status report filing with the Second Circuit Court has impacted XRP price momentum.

“This move gives more time for major institutions and big players to potentially step in while the price is around $2. Patience is key, and adapting to these legal twists is part of the game,” he concluded.

XRP price jumped over $2.30 after Purpose Investments got regulatory approval for the XRP ETF launch in Canada. The ETF will start trading on the Toronto Stock Exchange on Wednesday, June 18, under the XRPP ticker.

Moreover, institutional demand for XRP recovered after three weeks as funds recorded $11.8 million in inflow. But the $2.33 level remains a key level to watch for the XRP price rally to $3.

XRP price eroded its earlier 3% rise, with the price trading at $2.21 at the time of writing. The 24-hour low and high were $2.20 and $2.34, respectively.