Ripple and SEC: The Legal Tug-of-War That Just Won’t End! 🎢

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Oh, what a curious tale we have here! The US Securities and Exchange Commission (SEC) and Ripple Labs, those cheeky chaps, have decided to ask the Second Circuit Court of Appeals to hit the pause button on their appeals. Can you believe it? 🛑

Why, you ask? Well, they’re twiddling their thumbs, waiting for the Court’s grand decision on their shiny new request for an indicative ruling. This filing is just the latest twist in the never-ending saga of SEC vs. Ripple, a story that could make even the most patient snail tap its foot in impatience! 🐌

Ripple vs. SEC: Appeals on Hold Amid Key Court Decision

According to the court documents (which are as thrilling as a bowl of cold porridge), the request to pause the appeals was filed on June 16. This delightful delay comes after both parties decided to knock on the door of the Manhattan District Court to lift the injunction. Knock, knock! Who’s there? Oh, just a couple of legal eagles! 🦅

The motion, submitted on June 12, is like a letter to Santa, addressing a previous rejection by District Judge Analisa Torres. That denial was a bit of a damp squib, citing procedural deficiencies under Federal Rule of Civil Procedure 60(b). Sounds fancy, doesn’t it? But it requires “exceptional circumstances” to change a final judgment. And guess what? The updated filing now claims to have those exceptional circumstances! 🎩✨

For now, the motion is sitting pretty before Judge Torres, like a cat on a sunny windowsill. Attorney Fred Rispoli, the ever-optimistic legal wizard, has hinted that a decision from the Judge could pop up before the end of next week. Fingers crossed! 🤞

“In light of the foregoing, the parties are in agreement that this Court should continue to hold the appeals in abeyance,” the document read, sounding as serious as a cat in a room full of rocking chairs. 🐱

The outcome of this legal merry-go-round could have substantial implications. If they don’t snag that indicative ruling, Ripple might have to wait until 2026 for another chance to seek dismissal. Yikes! That’s a long time to be stuck in legal limbo! ⏳

Moreover, the SEC has also proposed to file another status report by August 15, 2025, to keep the Court updated on any further developments in the settlement process. Because who doesn’t love a good status report? 📊

While this legal battle rages on, its resolution could finally pull XRP out of its current legal quagmire. Market watchers, those ever-hopeful fortune tellers, believe this could spark a rally for the altcoin. But alas, BeInCrypto has previously reported on XRP’s struggles to gain momentum, despite the bullish catalysts. It’s like trying to push a boulder uphill! 🏔️

According to the latest data, XRP has lost 5.1% of its value over the past month. But don’t point fingers just yet! The lawsuit isn’t the only villain in this story; broader macroeconomic conditions have also weighed heavily on the market. 📉

Despite all this, a modest recovery was observed in the past day. BeInCrypto data showed that XRP rose 2.8%, trading at $2.2 at press time. Hooray! A little victory in the land of legal battles! 🎉

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2025-06-17 08:41