A major development has emerged in the ongoing legal battle between Ripple and the SEC. The U.S. Court of Appeals for the Second Circuit has temporarily paused the appeal, delaying the resolution of the case involving XRP. The court granted this pause upon a joint motion from the SEC and Ripple. This move comes after the SEC withdrew its appeal against Ripple, and follows a long-awaited official announcement from either party. 60 days will be given for the SEC to submit a report outlining their next steps following this pause. Legal expert Fred Rispoli anticipates that the case will continue at the district court level. He expects Ripple’s motion to modify Judge Analisa Torres’ prior summary judgment ruling, which has been put on hold while the appeal is being considered. 2023 saw a significant development: Ripple’s CLO (Chief Legal Officer), Stuart Alderoty, revealed that the SEC had agreed to reduce their penalty from $125 million to $50 million and request the court to lift an injunction hindering Ripple’s ability to sell tokens to institutional investors. This pause offers much-needed clarity for XRP holders, who have been navigating a legal landscape fraught with uncertainty. However, it’s crucial to note that this is just a temporary pause in the process. Ripple and its supporters are hopeful for more positive developments soon, such as an official dismissal of the lawsuit and increased institutional adoption of XRP which could lead to a surge in value. It’s important to remember this information is meant for general knowledge purposes only. Please conduct your own research before making any investment decisions. Times Tabloid does not provide financial advice and takes no responsibility for any losses incurred.