The Securities and Exchange Commission (SEC) and Ripple Labs jointly urged the Second Circuit to withhold the appeal.
The reason for the delay is that they await a court’s decision on the latest demand for directive rulings. This filing is the latest in a long-term series of SEC vs Ripple Saga legal developments.
Ripple vs. SEC: pending appeals in key court decisions
Court documents indicated that a request for a suspension of appeal was filed on June 16th. This comes after the parties file it in Manhattan District Court to lift the injunction.
The motion, filed June 12, addresses a prior denial by district judge Annalisa Torres. That denial cited a procedural flaw under federal rules in civil action 60(b).
This requires “exceptional circumstances” to change the final judgment. In particular, updated filings now claim such a situation.
For now, the motion is pending before Judge Torres. Attorney Fred Rispoli previously revealed that a decision from a judge is likely to come by the end of next week.
“In light of the foregoing, the parties agree that this court should continue to curb appeals.” Reading the document.
The results can be of great significance. If a directive ruling fails to secure, Ripple will have to wait until 2026 for another opportunity to seek dismissal.
Additionally, the SEC also proposed to file a separate status report by August 15, 2025 and update the court for further development of the settlement process.
While the legal battle continues, the resolution could separate XRP from its current legal scope. Market watchers also believe this could trigger an Altcoin rally. Beincrypto previously reported on XRP’s struggle to gain momentum despite a bullish catalyst.
According to the latest data, XRP has lost 5.1% of its value in the past month. However, litigation is not the only factor. The broader macroeconomic conditions also weigh heavily on the market.
Nonetheless, a modest recovery was observed on past days. Beincrypto data showed that XRP rose 2.8% and traded at $2.2 at press.
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