Agency File Status Report to confirm XRP Case Closure

The Securities and Exchange Commission (SEC) has filed a status report with the Court of Appeals to confirm its joint venture with Ripple Labs to close its long-standing lawsuit. According to the mail from defense attorney James Phillan, the US SEC has filed a status report highlighting the joint provisions being held back and awaiting court approval.

Earlier this month, the US SEC filed joint rules dismissal and therefore formally retracted the appeal. However, the Court of Appeal has not yet confirmed the joint provisions of the dismissal, and is a pending status filed by the US SEC.

Previously, Judge Analisa Torres had pending appeals and refused to file an orderly sentence with the parties.

Ripple has benefits from SEC’s “Project Crypto”

Ripple Labs has benefited greatly from the SEC bid to implement President Donald Trump’s crypto agenda. As President Trump pledged to turn the US into a crypto hub, the SEC launched an associated initiative called “Project Crypto.”

On Friday, SEC Chairman Paul Atkins said the Project Crypto initiative will help businesses grow and investors protect with the express purpose of making the United States the crypto capital of the world.

Ripple is already taking a strategic move to strengthen mainstream adoption of XRP through legal measures. Ripple USD (RLUSD), for example, has grown to around $187 million, a market capitalization of about $666 million and an average of 24-hour volume.

In particular, mainstream adoption of RLUSD plays a key role in on-chain burns in XRPs, which already have a fixed maximum supply.

What is the intermediate target for XRP prices?

Due to the clarity of regulations achieved by Ripple, XRP prices mark the start of the 2025 parabolic rally. The fully diluted valuation was around $314 billion, reaching an all-time high of around $3.65 in mid-July 2025.

Source: TradingView

In the four-hour time frame, XRP prices form a macro bullish trend with an intermediate target of $6.2, which is in line with the 1.618 Fibonacci extension based on the Elliott Wave principle. In particular, the third wave of Elliott’s Wave Principle often records at least 1.618 of the first wave.