Ripple Labs and the U.S. Securities and Exchange Commission (SEC) have filed a joint request to suspend their appeals as they seek a negotiated resolution of their ongoing legal dispute. This follows a preliminary agreement, confirmed in their filing to the U.S. Court of Appeals for the Second Circuit, where both parties indicated that the SEC would be dropping its appeal, and Ripple would dismiss its cross-appeal. The agreement is contingent upon obtaining final approval from the SEC, a process that could be influenced by the upcoming confirmation of a new chairman. Ripple CEO Brad Garlinghouse expressed optimism over the potential resolution of the case, stating that the SEC's withdrawal of its appeal signifies a positive development. This legal battle began in December 2020 when the SEC accused Ripple of conducting an unregistered securities offering totaling $1.3 billion since 2013. Recent developments had seen a favorable ruling for Ripple regarding sales of XRP on exchanges but indicated that contests over direct offers and executive sales could persist. Despite these developments, XRP's price has seen minimal immediate impact, suggesting that the potential resolution may already be priced in.

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