The United States Securities and Exchange Commission (SEC) has recently filed a status report with the Court of Appeals regarding a joint venture with Ripple Labs to bring an end to the long-standing lawsuit between the two parties. According to defense lawyer James Filan, the SEC’s status report highlights that a joint stipulation is still pending court approval.
Earlier this month, the SEC filed a joint stipulation dismissal, formally withdrawing the appeals in the case. However, the Court of Appeals has not yet confirmed the dismissal, leading to the current pending status filed by the SEC. Judge Analisa Torres had previously denied both parties a motion for an indicative ruling pending the appeals.
Ripple Labs has been benefiting significantly from the SEC’s efforts to implement President Donald Trump’s crypto agenda. The SEC recently launched ‘Project Crypto’, an initiative aimed at helping businesses grow and protecting investors in the crypto space. SEC Chair Paul Atkins stated that the goal of Project Crypto is to make the United States the crypto capital of the world.
Ripple has been proactive in enhancing mainstream adoption of XRP through legal means. The Ripple USD (RLUSD) has seen significant growth, with a market cap of around $666 million and a 24-hour average volume of approximately $187 million. The mainstream adoption of RLUSD is crucial for the on-chain burns of XRP, which has a fixed maximum supply.
With regulatory clarity achieved by Ripple, the XRP price has shown signs of a parabolic rally in 2025. The altcoin reached an all-time high of about $3.65 in mid-July 2025, driven by institutional investor demand. The XRP price has been forming a macro bullish trend with a midterm target of $6.2, based on a 1.618 Fibonacci extension according to the Elliott Wave principle.
Please note that the information provided in this article is for informational and educational purposes only. It does not constitute financial advice. Readers are advised to exercise caution before making any financial decisions.