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Key Takeaways:
- Ripple and SEC must file a joint status update by August 15 regarding appeals.
- Former SEC lawyer suggests both sides are motivated to finalize dismissals.
- A confirmed mutual withdrawal could bring an end to the multi-year lawsuit.
The long-standing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) could see a significant turning point on August 15, as both parties are required to file a joint status update with the court. This update is expected to clarify whether both sides are moving forward with dismissing their respective appeals, potentially bringing an end to the case.
Former SEC Lawyer Highlights Incentives to Settle
Former SEC attorney Marc Fagel weighed in on X, suggesting both Ripple and the SEC are “highly incentivized” to finalize dismissals or at least demonstrate that dismissals are actively being processed. Fagel stopped short of a prediction but emphasized that neither party likely wants further court delays or additional extension requests.
I'm not a gambling man. But the parties are highly incentivized to have dismissals on file by then (or at least to be able to tell the court that they are in the process of doing so).
— Marc Fagel (@Marc_Fagel) August 5, 2025
Ripple has already confirmed it will drop its cross-appeal, while the SEC has yet to formally withdraw its own. The absence of official documentation has fueled speculation within the XRP community about whether the SEC will follow through.
Ripple Looks to Move On
The context for this anticipated closure includes Ripple’s earlier attempt to seek an indicative ruling from Judge Annalisa Torres, aimed at reducing its penalty from $125 million to $50 million and removing a sales-related injunction. Judge Torres denied that joint motion, but Ripple swiftly indicated its intention to move forward, reiterating the prior ruling that XRP is not a security.
Also Read: BDACS Launches XRP Custody in South Korea, Boosting Ripple’s Institutional Adoption
This aligns with Fagel’s interpretation that both sides are keen to avoid further complications, particularly a return to the Court of Appeals.
Both parties clearly plan to drop their appeals. Neither wants to go to the Court of Appeals and say "we're not ready yet, please give us another extension on moving forward with the appeals."
— Marc Fagel (@Marc_Fagel) August 5, 2025
Final Status Update Could End the Case
If both parties confirm the withdrawal of appeals in the upcoming August 15 filing, it could effectively mark the conclusion of a legal dispute that has gripped the crypto world since late 2020. The procedural update may finally bring long-awaited closure to the XRP community and clarity to the regulatory treatment of digital assets.
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.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
