The US Court of Appeals for the Second Circuit has granted a joint motion to pause the appeal in the SEC-Ripple Labs case, as both parties move toward finalizing a settlement agreement.

According to a Wednesday update from lawyer James Filan, Circuit Judge José Cabranes signed the court order on April 16, putting the appeal “in abeyance,” or on hold, by mutual agreement.

#XRPCommunity #SECGov v. #Ripple #XRP The parties’ joint motion to hold the appeal in abeyance has been granted. The @SECGov is directed to file a status report within 60 days of this Order. pic.twitter.com/mUgEBaJRuU

— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) April 16, 2025

As part of the court order, the SEC is required to submit a status report within 60 days, by June 9, to update the court on the progress of the settlement.

The joint request, filed last week, followed an agreement-in-principle between the SEC and Ripple to resolve the legal battle.

While Ripple has publicly stated that the SEC has agreed to drop the appeal, the decision must still go through internal approval within the SEC, including a vote by the newly appointed Chair Paul Atkins and the other Commissioners.

Atkins, who was confirmed on April 9, is widely seen as a crypto-friendly figure.

If the SEC formally approves the agreement, both sides are expected to jointly move to dismiss the appeal. Depending on the terms of the settlement, a further motion may be submitted to Judge Torres in district court to revise or clarify the original judgment.