An appellate court in the U.S. has granted a joint motion filed by Ripple Labs and the Securities and Exchange Commission (SEC) to hold in abeyance the appeal regarding their years-long securities violations case.
The court asked the SEC to file a status report within 60 days.
It all began in December 2020 when the SEC sued Ripple for the alleged sale of unregistered XRP token securities worth $1.3 billion.
In July 2023, U.S. District Judge Analisa Torres ruled that the sale of tokens to institutional investors constituted a violation of securities laws, but their sale on public exchanges did not constitute a securities violation.
The case that went on for years took a different turn once Donald Trump assumed the office of the White House in January 2025.
Ripple and the SEC reached a historic settlement on March 25 as per which the payment firm will pay $50 million of the original $125 million penalty, with the remainder refunded from escrow.
The two parties filed a joint motion on Apr. 10 to hold the ongoing appeal and cross-appeal in abeyance. The motion included the regulator's appeal, Ripple's cross-appeal, and claims involving executives Brad Garlinghouse and Chris Larsen.
Ripple's chief legal officer Stuart Alderoty personally donated $300,000 in XRP to Trump's presidential campaign in June 2024. Ripple Labs donated $5 million in XRP to Trump's inaugural committee once he won the election.
As per Kraken's price feed , XRP was trading at $2.07 at press time, down 2.4% over the last 24 hours.
