The ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) has garnered significant attention, with market buzz intensifying over rumors of the lawsuit being removed from the SEC’s website. However, a well-known expert in the XRP community has debunked these claims, clarifying the current status of the case and its potential resolution timeline.
Ripple Lawsuit Not Removed from SEC’s Website
Sherrie, a respected figure in the XRP community, has firmly denied the reports suggesting that the SEC has removed the Ripple lawsuit from its website. According to Sherrie, the case remains active and is not at the trial court level. Instead, it appears under the Award Claims page of the SEC’s site and has been reassigned to the Court of Appeals with a new case number. This reassignment means that the case continues its legal journey beyond the district court, where Ripple was ordered to pay a penalty of $125 million—significantly lower than the $2 billion initially sought by the SEC.
The SEC removed it because it's in another circuit court for appeal.
— Prez Musk – not Elon Musk (@PrezMusk2025) January 30, 2025
Settlement or Dismissal Likely to Be Delayed
While many in the XRP community are hopeful for a quick resolution, especially with the Trump administration’s influence, Sherrie suggests that the lawsuit’s resolution may take longer than anticipated. Paul Atkins, nominated to become the SEC Chairman, is expected to be confirmed by the U.S. Senate in April. However, it is unlikely that any major decisions, such as the dropping of the lawsuit, will be made before Atkins officially assumes office.
As Sherrie explains, high-profile cases like Ripple’s are typically handled by the actual SEC Chairman, not an acting one. This further delays any potential resolution of the case until after Atkins’ confirmation, which is expected in April.
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Potential Timeline for Case Resolution
Ripple’s legal team is scheduled to submit their appeal and cross-appeal briefs by April 16, indicating that the case is still in active litigation. Legal analyst Jeremy Hogan has also predicted that a decision on whether the SEC will withdraw or dismiss the case could come in April or May.
In the event of a settlement or dismissal, both parties would submit a written notice to the Court of Appeals for the Second Circuit. However, this would only occur after the SEC votes to drop the case in the presence of Paul Atkins, who would then contact Ripple’s legal team. If both sides agree to dismiss the lawsuit, a formal notice will be filed.
The Ripple vs SEC lawsuit remains in full swing, with no current signs of removal from the SEC’s website or an immediate settlement. While the legal battle could extend into mid-2025, the involvement of Paul Atkins as SEC Chairman could pave the way for a potential resolution between April and June. The next few months will be crucial in determining the fate of Ripple and the broader cryptocurrency market.
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.
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