XRP Lawsuit News: Ripple Seeks April 16 Deadline for Cross-Appeal

Ripple has asked the court to set April 16, 2025, as the deadline for filing its cross-appeal brief in the ongoing XRP lawsuit against the SEC. This request, made in a letter to the Clerk of the Court of Appeals for the Second Circuit, comes as Ripple aims to challenge key aspects of the district court’s ruling regarding institutional XRP sales. Ripple’s cross-appeal focuses on overturning the SEC’s partial victory, which deemed institutional sales of XRP to be investment contracts.

Ripple Pushes Cross-Appeal in XRP Lawsuit

The XRP lawsuit has been a pivotal case for the cryptocurrency industry, and Ripple’s recent request highlights its commitment to challenging the SEC’s claims. Ripple has received support for its filing extension request from its CEO, Brad Garlinghouse, and co-founder Chris Larsen. This legal strategy addresses the $125 million fine imposed on Ripple and the injunction restricting its future XRP sales to institutional investors.

Ripple’s cross-appeal questions whether the SEC’s interpretation of an “investment contract” aligns with the 1933 Securities Act. The company also plans to argue that the court’s application of the Howey Test to institutional XRP sales was flawed. Ripple contends that its sales lacked the necessary elements to be considered securities, a key point in the XRP lawsuit.

#XRPCommunity #SECGov v. #Ripple #XRP @Ripple @Ripple requests a due date of April 16, 2025 for its brief. pic.twitter.com/7XhzGnf1Vt

— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) January 24, 2025

Ripple’s case has drawn attention to its potential to set legal precedents in cryptocurrency. The company plans to rely on its fair notice defense, asserting that the SEC failed to provide adequate regulatory guidance on XRP before initiating enforcement actions. Ripple also intends to challenge the injunction under Rule 65, further building its case against the SEC’s stance in the XRP lawsuit.

The XRP lawsuit has already seen significant developments, with the district court ruling in favor of Ripple for retail XRP sales. However, the SEC’s partial victory on institutional sales has kept the case alive. Ripple’s cross-appeal is expected to shed more light on these contentious issues as the case continues.

SEC Timeline Reflects in XRP Lawsuit Strategy

Ripple’s request for an April 16 filing deadline mirrors the SEC’s earlier request for additional time to submit its brief. In January 2025, the SEC filed its opening appellate brief following a similar 90-day extension. Ripple now seeks equal time to prepare its cross-appeal, ensuring a robust defense in the XRP lawsuit.

Pro-XRP attorney Jeremy Hogan described Ripple’s request as standard procedure. He also suggested developments like a potential settlement or dismissal could render the April 16 filing unnecessary. However, with the XRP lawsuit shaping the future of crypto regulation, the legal fight remains closely watched.

The XRP lawsuit has become a focal point for regulatory debates in the crypto industry, and Ripple’s appeal could have far-reaching consequences. Whether through court rulings or settlements, the outcome of this case will likely influence how cryptocurrencies are classified and regulated in the U.S.

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