This ground-breaking 6-page document denotes Ripple & SEC’s latest efforts in getting the indicative ruling.
The U.S. Securities and Exchange Commission (SEC) & Ripple just made a further unified statement in regards to the completion of the 6-year long lawsuit. Ripple’s Defense Attorney James K. Filan posted the mutual legal request to the Second Circuit court to carry on holding the appeal in abeyance.
SEC And Ripple Wants To Make Peace, But..
This means the $50 million settlement still stands, but first the legal procedure has to be cleared by the District Court’s Judge Analisa Torres. The 6-page long document insists that the SEC has to complete a status report by August 15, 2025, aiming to dissolve the injunction in the case and put the settlement agreement into practice.
If granted, this would allow Ripple to release the $125 million XRP in escrow, paying the $50 million fine to the SEC, while the remaining balance would be returned to Ripple Labs. Moreover, Ripple cited the The U.S. Securities and Exchange Commission’s (SEC) positively contrasting approach to crypto currencies since Paul Atkins took the reins as SEC Chair.
Can XRP Price Tack On $3.5 Amid Legal Win?
Ripple’s coin (XRP) famously retested the 7-year all-time heights of $3.40 in January, 2025, when the SEC agreed to settle their differences with Ripple for $50 million instead of the initial $150 penalty. Naturally, the hype slowed down when it was made public that legally the lawsuit is not done yet, sending XRP’s price to retest the major demand zone of $2.20 continuously.
Presently, XRP’s price is trading at $2.21, claiming just one cent above the long-term support range. If Ripple’s native altcoin manages to close the day above the $2.31 XRP price level, bulls could orchestrate a bigger breakthrough.
Naturally, the $3.50 campaign for this popular remittance altcoin highly depends on the next legal updates, as XRP believers, or bulls, don’t have enough power on-hand to push to new all-time heights. This is well portrayed in the liquidation metrics on Derivatives.
In a 24-hour window, Ripple (XRP) bulls got wiped out of $11.12 million, real-time on-chain data shows. Meanwhile, short-selling leveraged plays on XRP coin’s price took up $3.39 million of the $14.51 million in daily liquidations, CoinGlass notes.
This denotes the belief of a more aggressive bull run than the one last night, where Ripple (XRP) coin erupted to $2.33, but erased all of these gains in less than 12 hours. Because of this, many market observers labeled Monday’s XRP bull run a bull trap, alternatively known as ghost rally.
On The Flipside
Why This Matters
Originally, the SEC sued Ripple Labs for offering unregistered securities, but the notion around altcoins as securities has drastically changed since the high-profile investigation was launched.
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