Key Points:
- Ripple and SEC seek to pause appeal as they await ruling on $125M escrow redistribution.
- XRP Open Interest surpasses $4 billion, showing active market participation despite legal delays.
- Spot XRP ETF approval odds dip to 88%, with Grayscale and ProShares applications under review.
Ripple and the US SEC have jointly filed a request to the U.S. Court of Appeals for the Second Circuit, asking to keep the ongoing appeal on hold. The update follows a June 17 post on X by defense lawyer James K. Filan, which explained that both parties are awaiting the outcome of a motion for an indicative ruling from the district court.
The pending motion is directed at District Judge Analisa Torres and seeks to modify the final judgment issued earlier in the case. The request includes a proposal to dissolve the injunction that currently limits Ripple from selling XRP to institutional buyers in the U.S. It also addresses the redistribution of the confiscated escrow payment, valued at approximately $125 million.
Ripple and SEC Settlement Terms and Penalty Adjustment in Focus
Under the proposed terms, the SEC is requesting a $50 million penalty from the seized funds, while the remaining amount would be returned to Ripple. The parties have stated that if Judge Torres agrees to amend the final judgment, they will move to dismiss the appeal entirely. Until then, the SEC is expected to provide a status update to the Second Circuit by August 15, 2025.
As CoinCu reported, the motion to modify the final ruling follows the April agreement between Ripple and the SEC to pause the appeal process. That move came after the two sides reached a partial settlement, reducing the original penalty and addressing the restrictions tied to XRP sales.
Ongoing Legal Process Influences XRP Sentiment
Despite delays in the legal process, investor interest in XRP remains active. Derivatives data shows that Open Interest in XRP recently surpassed $4 billion. This suggests ongoing participation in XRP markets, even as the legal outcome remains uncertain.
At the same time, market analysts are watching for further updates on spot XRP ETF applications. Companies like Grayscale and ProShares have submitted filings, with decisions expected soon. Current approval odds on Polymarket stand at 88%, down from 98% earlier this month, while Bloomberg analysts project an 85% chance of approval by year-end.
According to our recent analysis, XRP was trading around $2.23 at the time of reporting. This places it just below the $2.30 resistance level, which has been tested several times in recent weeks. If buying pressure increases and this level turns into support, XRP may target the next resistance levels at $2.60 and $3.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Source: https://coincu.com/343797-sec-vs-ripple-august-15-deadline-set-as-appeal-remains-on-hold/