TLDR
- Joint stipulation filed between Ripple and SEC for deferred appendix in ongoing appeal
- SEC must submit opening brief by January 15 in appeal of $125M settlement
- XRP market value increased 11.5%, reaching $2.82 with $11.5B trading activity
- Large investors accumulated 37% more XRP since November 2024
- JPMorgan analysts predict potential XRP ETF in 2025 with $8B projected inflows
The cryptocurrency market witnessed a surge in XRP trading as Ripple Labs and the Securities and Exchange Commission (SEC) reached a new procedural agreement in their ongoing legal dispute. The digital asset’s price rose to $2.82, marking an 11.5% increase amid heightened market activity.
Defense lawyer James K. Filan revealed that both parties submitted a joint stipulation to the court, agreeing to employ a deferred appendix approach for their cross-appeals. This legal mechanism allows the parties to compile relevant documents after filing their initial briefs, streamlining the appeals process.
Tomorrow’s deadline looms large for the SEC, which must submit its opening brief in the appeal of last year’s ruling. The 2023 decision required Ripple to pay $125 million in settlement fees, a fraction of the SEC’s original $2 billion demand. This upcoming brief will outline the regulator’s arguments against that ruling.
Trading data shows remarkable market interest, with 24-hour volume exceeding $11.5 billion. Coinglass reports indicate a 21% rise in open interest, while liquidations reached $14 million. Short sellers faced particular pressure, with $10 million in bearish positions forced to close.
Whale activity has notably increased over recent months. Data reveals that investors holding between 1 and 10 million XRP tokens expanded their positions by 37% since mid-November 2024. This accumulation phase resulted in approximately $3.8 billion worth of XRP changing hands.
A parallel legal development saw Senior District Judge Phyllis J. Hamilton grant a motion to protect sensitive information. The judge approved sealing eight exhibits related to Ripple and CEO Brad Garlinghouse’s summary judgment motion in the separate In re Ripple Labs Litigation.
Legal analysts have weighed in on the latest filing’s implications. One observer, Sherrie, clarified that the deferred appendix arrangement means “parties will file a single combined appendix containing only information referenced in their briefs.” This approach helps maintain an organized appeals process.
Bill Morgan, a lawyer following the case, noted the market’s positive reaction to the approaching SEC brief deadline. While the brief’s contents remain unknown, investor sentiment appears optimistic about the case’s trajectory.
Banking giant JPMorgan added another dimension to the XRP narrative by suggesting the possibility of an XRP ETF approval in 2025. Their analysis projects potential first-year inflows of $8 billion if such a product launches.
The XRP Ledger continues attracting attention from financial institutions interested in its transaction capabilities. This technical adoption persists independently of the ongoing legal proceedings, though regulatory clarity could affect future implementation decisions.
Market metrics reveal strong buying momentum. The $10 million in short position liquidations highlights the risks faced by traders who bet against the price increase. These forced closures likely contributed to the upward price movement.

XRP’s current $2.82 price point represents a break through previous trading ranges. Volume analysis confirms broad participation in the rally across major trading venues and geographical regions.
Exchange data shows mounting buy orders and declining sell pressure. This shift in market dynamics coincides with the timing of key developments in the legal proceedings.
The immediate focus remains on tomorrow’s SEC brief submission. This document will provide fresh insights into the regulator’s position as both parties move through the appeals process.
Today’s stipulation establishes clear parameters for document handling during appeals, with the deferred appendix system allowing both parties to manage case materials more efficiently.
The price movement occurred against a backdrop of broader market interest in XRP’s regulatory status. Trading patterns suggest investors are positioning themselves ahead of potential developments in the case.
Market participants continue monitoring order books and trading flows for signs of institutional involvement. The recent whale accumulation pattern indicates sustained interest from larger investors despite legal uncertainties.
The shared agreement on appeals documentation demonstrates ongoing procedural cooperation between Ripple and the SEC, even as they maintain opposing positions on key legal issues.
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