The joint motion of Ripple and U.S. Securities and Exchange Commission (SEC) to hold the appeal in abeyance has been granted by the Circuit Judge Jose A. Cabranes. The judge approved the motions filed by both parties, obliging the SEC to write a status report in two months.
As both Ripple and the SEC are stashing their legal weapons in order to finalize a highly-anticipated settlement in the 6-year old lawsuit, thereโs still some bases to cover.
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Most importantly, the newly-appointed SEC Chair Paul Atkins has to be sworn in before the agreement gets the green light.
As these ground-breaking XRP news hit the broader crypto markets, one crypto whale bought a whopping 6,982,590.5248 XRP coins from Coinbase, later transferring the enormous sum to a self-custodial on-chain crypto wallet.
Golden Cross Summoning XRPโs 465% Rally?
The last time a Golden Cross pattern manifested itself on Rippleโs (XRP) two-day price charts, that resulted in a 465% bull run in 4 weeks after the positive XRP case news first came out.
However, that was accompanied by a massive trading volume, outpacing Solana (SOL) and Ethereum (ETH) during the peak, while now XRP coin trails SOL by a distance in daily trading volume, netting $2.452 billion & $5.195 billion in 24 hours, respectively.
During the time, it was made known to the public that Ripple is poised to settle with the SEC for a $50 million fine, a considerably favorable ruling in the context that SEC was initially aiming to rip into XRP coinโs parent company for sales of unregistered securities.
As Ripple is looking for an indicative ruling by Judge Torres, this would boost the chances for an initial public offering (IPO) over the next three years, argues lawyer James Farrell on X.
Meanwhile, XRP is consolidating its recent double-digit rebound rally at a very tight range, the Golden Cross structure wonโt do much by itself, unless large XRP coin investors, otherwise known as whales, come back with a bigger appetite.
Presently, the large money flow-tracking Chaikin Money Flow (CMF) is flashing way below zero, losing buying momentum since April 15, 2025.
On The Flipside
- Part of the XRP holder community, popularly known as XRP Army, is dissatisfied with the latest outcome, as the move gives more leeway for the high-profile case to drag on before a full completion.
Why This Matters
The Ripple vs U.S. Securities and Exchange Commission case sets a precedent for forward crypto legislation and embracing blockchain technology on an institutional level.
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