The Ripple vs. SEC lawsuit seems to be nearing its final stages, however the path is just not but clear. Though Ripple formally withdrew its cross-appeal in June and fulfilled its $125 million penalty obligation, the SEC has but to do the identical.
This case has dwelled lengthy within the minds of the members of the XRP group, and most lately, pro-XRP lawyer Invoice Morgan commented that whereas there’s technically no exhausting deadline for the SEC to withdraw, a key date is now quick approaching.
No Deadline, However the Clock Is Ticking
In response to pro-XRP lawyer Bill Morgan, August 15, 2025, serves as a procedural checkpoint for each Ripple and the SEC on their authorized standoff. It’s because they’re required to submit a joint standing report back to the appellate courtroom on that date, successfully making it the second when the SEC will probably be anticipated to point out its hand.
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Though the regulatory company is underneath no authorized obligation to dismiss its attraction by then, the deadline is a set off for motion, or on the very least, a proper replace. He wrote that “the SEC must report back to the attraction courtroom by 15 August 2025, which acts as a deadline… though it might simply ask for extra time.”
This delay has left the XRP group in a holding sample since October 2024, when the SEC filed a discover of attraction on Choose Torres’ ruling. The main consensus is that the SEC would comply with Ripple’s lead of dropping its cross-appeal.
What Occurs If The SEC Withdraws Or Doesn’t?
The longer the SEC stays silent, the extra uncertainty clouds the trail ahead, regardless of rising consensus that Choose Torres’s ruling in July 2023, which declared XRP not a safety in secondary market buying and selling to retailers, ought to now be finalized. The attraction has primarily allowed the case to tug on for 2 extra years.
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If the SEC withdraws its attraction within the coming days, that motion will cement the Might 2023 ruling as remaining. This may not solely finish the multi-year authorized battle but additionally unlock a number of long-awaited market developments.
As noted by crypto commentator Vincent Van Code, over 1,700 corporations tied to Ripple by NDAs might lastly reveal partnerships and projects built on the XRP Ledger. Moreover, authorized readability would additionally pave the way in which for institutional-grade merchandise like Spot XRP ETFs waiting for approval, which in flip would trigger a speedy improve within the worth of XRP.
Nonetheless, if the SEC requests extra time on or round August 15, it might delay this subsequent section of XRP’s progress and proceed to maintain XRP’s regulatory standing in limbo. Though such a transfer wouldn’t reverse any authorized victories Ripple has secured, it will lengthen the uncertainty that’s restraining confidence amongst traders.
Featured picture from iStock, chart from Tradingview.com