The case between Ripple Labs and the US Securities and Exchange Commission received a long-awaited updated on June 16th, as the institution submitted a status report, which more or less asks for an extension of a previous deadline.

Ripple vs. SEC Lawsuit Update

As CryptoPotato reported earlier this month, both parties managed to reach an agreement regarding the fine that Ripple has to pay through a joint motion, which was tossed by presiding judge Analisa Torres on the grounds of it failing to meet certain regulatory criteria.

June 16th was the date until which the Commission had to file a status report and many in the community believed that this would effectively mark the end of the lawsuit, but their hopes were for not.

The SEC did file a motion but it asked the court to continue to hold the appeals in abeyance, with the Commission to file a status report by August 15th, 2025. In essence, they asked for a 2-month delay. The court is yet to rule on this request, of course, which, also summarized the events leading to it, argued that both parties are in agreement that the deadline be extended:

In light of the foregoing, the parties are in agreement that this court should continue to hold the appeals in abeyance, with the Commission to file a status report by August 15, 2025.

XRP Price Outperforms on the Daily

Trading at around $2.24, XRP is 2.4% up for the day, which may not seem like a lot, but its the best-performing altcoin from the top 15.

It reached an intraday high of almost $2.34 as seen in the chart below, but has since retraced.

Source: TradingView The broader cryptocurrency market remains uncertain amid the ongoing war between Israel and Iran as participants remain in expectation of the stance of global military powers like the US, China, Russia, and more.