|
Getting your Trinity Audio player ready...
|
Key Takeaways:
- Judge Torres has approved docket withdrawals, marking progress toward ending the Ripple vs SEC lawsuit.
- Ripple plans to drop its cross-appeal following the SEC’s filing deadline on August 15.
- XRP is consolidating above $3, with analysts forecasting a rally toward $6 and $15.
The long-running legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) is edging toward a formal conclusion. In a significant procedural move, Judge Analisa Torres signed a memo endorsement approving recent withdrawals of parties and attorneys from the case, signaling that both sides are preparing to wrap up the high-profile dispute.
Judge Torres Clears Docket in Ripple-SEC Case
A court filing revealed that Judge Torres approved a memo that allows multiple parties and witnesses—previously involved in the case—to withdraw. This includes an investment banker and their client who had submitted expert testimony after joining the case in August 2023.
This administrative cleanup indicates the lawsuit’s conclusion is progressing behind the scenes, even after the denial of the parties’ joint indicative ruling motion.
Ripple to Drop Cross-Appeal Following SEC Filing
Ripple CEO Brad Garlinghouse has confirmed that the company intends to drop its cross-appeal in the 2nd Circuit Court following the SEC’s status update due by August 15. According to an SEC attorney, Ripple will pay a civil penalty of $125 million and face a four-year bar from initiating a public offering (IPO).
Legal expert and former SEC lawyer Marc Fagel noted that it typically takes 1–2 months for the Commission to approve enforcement recommendations. A public SEC statement regarding the end of the Ripple appeal could arrive within weeks.
Once the enforcement recommendation is approved, will that decision be released and become public knowledge? Curious around when we should actually expect a press release or public declaration.
— Terrell Williams (@HowInvesting) July 22, 2025
XRP Price Holds Steady as Analysts Predict Major Rally
While legal developments unfold, XRP is trading sideways around $3.46. The token hit a new all-time high last week, and despite a 31% drop in trading volume, investor sentiment remains optimistic.
Crypto analyst Ali Martinez forecasted XRP’s next targets at $6 and potentially $15, citing bullish flag patterns on both weekly and daily charts. Such technical indicators suggest strong upward momentum could follow once legal uncertainty fully clears.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
Also Read: How Ripple’s Charter Could Quietly Turn XRP and Stablecoins Into U.S. Banking Infrastructure
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
