XRP Surges in Activity as Ripple, SEC Pursue Court Settlement
Ripple Labs and the U.S. Securities and Exchange Commission have jointly requested a pause in their ongoing appeals process as both sides move closer to a settlement. The development marks a potential de-escalation in a legal battle that has drawn intense scrutiny across the crypto world.
The request was submitted to the U.S. Court of Appeals for the Second Circuit, signalling that Ripple and the SEC are seeking time to finalise terms that could bring an end to one of the industry’s most pivotal regulatory disputes.
The parties are currently awaiting a decision on a renewed joint motion to modify the final judgment in the case.
That motion follows a proposed settlement in May 2025, which sought to reduce Ripple’s penalty from $125 million to $50 million and lift an existing injunction. The district court initially rejected the proposal, stating that the motion failed to demonstrate the “exceptional circumstances” required to amend the judgment.
Ripple filed a cross-appeal in October 2024 in response to the SEC’s initial appeal. However, this new motion for an indicative ruling appears to be a renewed push for resolution outside of continued litigation.
Legal commentator James Filan said the appeals court is expected to receive an update by August 15—a date now seen as a key milestone in the ongoing negotiations.
Meanwhile, Ripple’s XRP token is showing strength despite the legal backdrop. On-chain data from Santiment shows a major uptick in network activity, with daily active addresses climbing to an average of 295,000—far above the usual 35,000 to 40,000 range.
The number of large wallets holding over 1 million XRP has also reached an all-time high of more than 2,700.
In trading terms, XRP’s 24-hour volume surged by 158% on June 17, hitting $5.23 billion. Although the token has dipped 8% over the past month, it remains up 7% since the start of the year. With both sides signalling progress toward a settlement, attention is now focused on mid-August for what could be a decisive turn in a case that may shape the future of crypto regulation.
