SEC Delays Appeal Withdrawal In Ripple Lawsuit, | Crypto News
The Ripple vs. SEC lawsuit seems to be nearing its closing levels, but the trail is just not yet clear. Although Ripple formally withdrew its cross-appeal in June and fulfilled its $125 million penalty obligation, the SEC has yet to do the identical.
This case has dwelled long in the minds of the members of the XRP group, and most just lately, pro-XRP attorney Bill Morgan commented that while there’s technically no onerous deadline for the SEC to withdraw, a key date is now fast approaching.
No Deadline, But the Clock Is Ticking
According to pro-XRP lawyer Bill Morgan, August 15, 2025, serves as a procedural checkpoint for both Ripple and the SEC on their legal standoff. This is because they’re required to submit a joint standing report to the appellate court on that date, successfully making it the second when the SEC will probably be anticipated to show its hand.
Although the regulatory company is under no legal obligation to dismiss its appeal by then, the deadline is a set off for motion, or at the very least, a formal replace. He wrote that “the SEC needs to report to the appeal court by 15 August 2025, which acts as a deadline… although it may just ask for more time.”
This delay has left the XRP group in a holding sample since October 2024, when the SEC filed a discover of appeal on Judge Torres’ ruling. The main consensus is that the SEC would comply with Ripple’s lead of dropping its cross-appeal.
What Happens If The SEC Withdraws Or Doesn’t?
The longer the SEC stays silent, the more uncertainty clouds the trail ahead, despite growing consensus that Judge Torres’s ruling in July 2023, which declared XRP not a security in secondary market trading to retailers, ought to now be finalized. The appeal has basically allowed the case to drag on for two more years.
If the SEC withdraws its appeal in the approaching days, that motion will cement the May 2023 ruling as closing. This wouldn’t only finish the multi-year legal battle but also unlock a number of long-awaited market developments.
As famous by crypto commentator Vincent Van Code, over 1,700 firms tied to Ripple through NDAs could finally reveal partnerships and tasks constructed on the XRP Ledger. Furthermore, legal readability would also pave the best way for institutional-grade merchandise like Spot XRP ETFs ready for approval, which in flip would trigger a speedy increase in the price of XRP.
However, if the SEC requests more time on or around August 15, it may delay this next part of XRP’s growth and proceed to keep XRP’s regulatory standing in limbo. Although such a transfer wouldn’t reverse any legal victories Ripple has secured, it could extend the uncertainty that is restraining confidence among buyers.
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