XRP News Today: Ripple Withdraws Cross-Appeal Ahead of July 3 SEC Meeting

The ongoing legal conflict between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) has taken another turn. The XRP Army’s attention is now shifting to a closed-door SEC meeting scheduled for Thursday, July 3 at 2 p.m. ET. While some in the crypto community speculate that this session could mark a pivotal moment in the case, others are urging caution, noting that such meetings are routine.

A user posting under the alias RippleRadar stoked speculation on social media platform X. They wrote, “Ripple Legal Drama: Could July 3 Mark the Final Chapter? The SEC has a private meeting set for July 3 at 2PM ET to review potential case closures — fueling buzz they might drop the Ripple case.”

However, former SEC attorney Marc Fagel quickly dismissed the excitement. He said, “In other words, the meeting they hold every Thursday is being held Thursday. Tells us nothing about Ripple timing. Sorry.”

The SEC holds closed meetings each Thursday to discuss litigation and enforcement matters, but the contents of those sessions are confidential. Fagel added further clarification in response to suggestions that the Commission could fast-track a decision via a remote call. He added, “Yeah, that’s not how it works. If they’re going to meet, they do it at the Thursday closed meeting. They have other ways to approve enforcement recommendations outside the usual meetings, which is possible here, but the public isn’t privy to this so it’s all speculation.”

These developments come amid Ripple Labs’ latest move to de-escalate the years-long courtroom battle. Ripple CEO Brad Garlinghouse confirmed that the company has formally chosen to withdraw its cross-appeal in the lawsuit over XRP’s status as a security. “We’re closing this chapter once and for all, and focusing on what’s most important – building the Internet of Value,” Garlinghouse stated via X. He added that the SEC is also expected to drop its appeal, which they had earlier signaled.

Meanwhile, the announcement follows a critical court ruling issued by the U.S. District Judge Analisa Torres on June 26. Judge Torres denied the SEC’s motion to revise financial penalties previously imposed on Ripple and rejected its request to eliminate an injunction mandating compliance with securities laws going forward.

Now, with both sides showing signs of stepping away from prolonged litigation, speculation continues to swirl about whether the July 3 SEC meeting will contain any definitive resolution. Thus, observers await formal action or silence from the agency.

The legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) over the classification of XRP as an unregistered security is nearing its conclusion. Ripple CEO Brad Garlinghouse recently announced that the company is withdrawing its cross-appeal against the SEC, a move that has sparked optimism within the XRP community. Garlinghouse's statement on social media indicated that Ripple is ready to move forward and focus on its business objectives, including building the Internet of Value.

The SEC is also expected to withdraw its own appeal, which would mark a significant step towards resolving the multi-year legal dispute. The focus now shifts to a closed-door SEC meeting scheduled for July 3, 2025, at 2:00 p.m. ET. According to a Sunshine Act Notice, the meeting's agenda includes the resolution of litigation claims, administrative proceedings, and settlements. Although Ripple is not explicitly mentioned, the timing and content of the meeting have led to speculation that it could be the final procedural step in ending the case.

Legal experts, including former SEC attorney Marc Fagel, have weighed in on the potential outcome. Fagel noted that Judge Analisa Torres, who oversaw the Ripple case, had already issued a final judgment over a year ago. He explained that once both parties have dismissed their appeals, the case will effectively be closed. Fagel's insights support the theory that July 3 could be the day the SEC formally ends the lawsuit.

The potential resolution of the Ripple-SEC case holds significant implications for both the company and the broader crypto industry. If the SEC formally withdraws its appeal, Ripple would no longer face regulatory uncertainty, allowing it to fully focus on its business roadmap and partnerships. For XRP, the outcome could be even more impactful. With legal risk reduced, the token may regain access to major U.S. exchanges and institutional platforms that had previously distanced themselves during the legal proceedings. Investors are already eyeing this event as a major bullish trigger, as a confirmed resolution could clear the path for broader adoption and price recovery.

The road ahead for Ripple and XRP hinges on the outcome of the July 3 meeting. While the outcome is not guaranteed, the signs are pointing towards closure. For the XRP community, this closure cannot come soon enough, as it would mark the official end of one of crypto’s most closely watched legal sagas. Ripple will finally be able to move beyond a regulatory battle that has defined much of its public narrative since 2020.