New Development in Ripple – SEC Case! Court Accepts Request! So What Happens Next? – SEC Has 60 Days!

New developments continue to come on the Ripple – SEC front.

At this point, Ripple and the US Securities and Exchange Commission (SEC) filed a joint request with the US District Court last week.

In their petitions, the parties requested that the ongoing appeal process regarding the XRP case be suspended.

The court ruled on the joint motion, approving the SEC and Ripple’s joint motion to stay the appeal.

It Has 60 Days!

Former federal prosecutor James K. Filan shared on his X account that the joint request to suspend the SEC and Ripple appeal was approved.

The SEC is required to file a status report within 60 days. Accordingly, the SEC has 60 days starting from April 16, 2025, to file its report explaining what happened or what will happen next.

With this court decision, the appeal in the case between SEC and Ripple has now been officially stopped.

What Happened?

The XRP case, which has been going on for years between Ripple and the SEC, was decided in 2023. Judge Torres ruled that programmatic XRP sales were not considered securities, while institutional sales were considered securities. Ripple was also fined $125 million.

After this decision, the appeal process began. However, in mid-March, Ripple CEO Brad Garlinghouse said in a post on his X account that the SEC would withdraw its appeal. The CEO called this a great victory.

Garlinghouse said in a statement that Ripple and SEC staff have reached an agreement to end the case, and as part of the agreement, Ripple will pay the SEC $50 million. Ripple will get back the rest of the $125 million it invested, including interest earned.

*This is not investment advice.