In a major development for the crypto industry, U.S. District Judge Analisa Torres has denied a joint request from Ripple Labs and the U.S. Securities and Exchange Commission (SEC) to pause their ongoing legal appeals over the status of XRP.
This decision means that the longstanding legal battle, which began in December 2020, will continue to unfold in court—delaying a final resolution that many in the crypto community had been anticipating.
Background of the Ripple-SEC Case
The SEC originally filed a lawsuit against Ripple Labs claiming that the company’s sale of XRP tokens constituted an unregistered securities offering. Ripple pushed back, arguing that XRP is a digital currency, not a security.
In July 2023, Judge Torres issued a split ruling:
- XRP institutional sales violated securities laws.
- XRP programmatic (retail) sales did not qualify as securities offerings.
This partial victory was celebrated by Ripple supporters, as it clarified that XRP trading on crypto exchanges did not breach U.S. securities laws. However, the SEC later attempted to appeal the retail portion of the ruling—a motion that the judge rejected, stating that the agency failed to prove a basis for appeal.
The Latest Development: No Pause on Appeals
On April 10, 2025, Ripple and the SEC filed a joint motion requesting that the court pause any further appeals while they worked on finalizing a settlement agreement. Ripple had reportedly agreed to pay a $50 million fine, a reduction from the earlier proposed $125 million.
However, Judge Torres denied the request, effectively stating that the appeals process must continue unless a conclusive settlement is officially filed and approved.
What This Means for XRP and Crypto Markets
The rejection of the joint pause bid:
- Keeps regulatory uncertainty around XRP alive.
- Could delay Ripple’s ability to fully expand operations in the U.S.
- May create short-term volatility in XRP’s price, which has fluctuated between $0.50 and $0.55 since the news broke.
Conclusion
As the legal battle resumes, the crypto industry watches closely. The Ripple vs SEC case remains one of the most influential lawsuits in shaping the future of crypto regulation in the United States. Whether this dispute ends in court or through settlement, its impact on how digital assets are treated under U.S. law will be long-lasting.