April 16 Still a Crucial Date For XRP Lawsuit? Here’s What’s Expected

Ripple’s long-standing legal battle with the U.S. Securities and Exchange Commission has entered a critical phase, with April 16 previously marked as the deadline for Ripple to file its appellate brief approaching. However, the latest procedural updates suggest a different outcome is far more likely.

Fred Rispoli stated that Ripple will avoid filing the brief on this matter. He designated ninety percent odds that a settlement would emerge or the appeal would be withdrawn, thus redirecting the legal position of the case.

Ripple and the Securities and Exchange Commission filed a concurrent request to suspend the present appeal proceedings. The joint motion demonstrates that both parties have negotiated the terms of an impending settlement, which requires confirmation from the SEC Commission. Hence, the legal documents scheduled for April 16 filing will not move forward.

Rispoli explained that the southern New York district and second circuit court maintain active roles in the case. Under Judge Analisa Torres and the Second Circuit Court of Appeals, the Southern District of New York holds authority over ongoing legal matters.

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According to Rispoli, the current injunction from Judge Torres needs approval from the appellate court before making any new modifications.

This structure means that activity at the district court level remains paused. Procedural actions, including altering previous rulings, are contingent on either withdrawal or the appeal’s conclusion in the higher court.

Joint Motion Suggests Progress Toward Final Agreement

Retired securities lawyer Marc Fagel also reacted to the latest development. He suggested that the joint filing points to a settlement agreement already in place, although not formally completed. According to Fagel, the sequence may involve returning to Judge Torres to adjust the injunction before the appeal is officially dismissed.

Rispoli confirmed the necessity for moving the case back to the district court. According to Rispoli’s observation, the issue remains unclear about whether parties must officially withdraw their appeal before Judge Torres can regain jurisdiction.

The joint motion signifies substantial progress in solving the dispute that originated in December 2020 when the SEC accused Ripple of unregistered securities deals regarding XRP sales. Both parties have chosen to work privately with growing indications that they will find a permanent settlement.

Though no legal filing is expected on April 16, the date still carries importance as a milestone in the case’s timeline. It reflects the shift from active litigation to potential resolution, which could clarify XRP’s regulatory standing and broader implications for crypto-related securities.

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