The high-stakes legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) is nearing its conclusion, but it’s not over just yet. While recent developments suggest both parties are ready to walk away from further appeals, one key step remains before the case is officially closed. According to former SEC official Marc Fagel, the lawsuit is still technically active, and a final court dismissal has not yet occurred. Ripple and the SEC Drop Their Appeals On June 27, 2025, Ripple CEO Brad Garlinghouse announced that the company would withdraw its cross-appeal in the long-running lawsuit. This came after the SEC, on March 19, 2025, signaled its intent to drop its appeal. These actions were seen by many in the crypto space as the definitive end of a case that has lasted more than four years and shaped the regulatory landscape for digital assets in the U.S. No, that didn’t happen. The SEC presumably still has to vote to drop the appeal. Which they will 100% do, but nothing’s been dismissed yet. — Marc Fagel (@Marc_Fagel) June 28, 2025 Crypto influencer Jungle Inc captured the sentiment on X, posting: “It’s all over, red rover. The SEC dropped its appeal on March 19, 2025. Ripple dropped its cross-appeal on June 27, 2025. One of the biggest legal fights in crypto history is DONE.” However, that interpretation may have been premature. Marc Fagel Sets the Record Straight Responding directly to Jungle Inc’s statement, Marc Fagel, a former SEC enforcement lawyer, clarified that the appeals haven’t been officially dismissed yet. He wrote, “No, that didn’t happen. The SEC presumably still has to vote to drop the appeal. Which they will 100% do, but nothing’s been dismissed yet.” Fagel’s insight highlights a critical legal nuance: while parties can signal their intent to end a case, an actual court order is required to finalize dismissal. The SEC must first hold a formal internal vote to withdraw the appeal, and only then can the court process the dismissal. A Look Back at the Turning Points The case began in December 2020 when the SEC alleged that Ripple’s sale of XRP amounted to an unregistered securities offering. The pivotal moment came in July 2023 when Judge Analisa Torres ruled that XRP was not a security in programmatic sales on exchanges , though Ripple’s institutional sales were found to violate securities laws. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 The SEC initially sought $2 billion in penalties during the remedies phase, but eventually reduced the demand to $105 million. In early June 2025, both parties submitted a joint settlement proposal. However, Judge Torres denied it . Ripple’s decision to drop its cross-appeal was seen as a strategic move to clear the path for resolution, placing the final responsibility on the SEC. What Happens Next? According to Fagel, the SEC is still expected to vote to drop the appeal, a move he believes is inevitable. Once that internal process is completed, the court will be able to officially dismiss the case, closing one of the most significant legal chapters in crypto history. Until then, the case remains technically open, even if all signs point toward its imminent conclusion. For now, the crypto industry watches closely, awaiting the final signature on a lawsuit that has tested regulatory boundaries and redefined how digital assets are treated under U.S. law. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post XRP Case Update: Ex-SEC Lawyer Reveals What’s Next to End the Lawsuit Completely appeared first on Times Tabloid .
