XRP News Today: Ripple vs SEC Appeal Likely Months Away Despite Community Hype

Former SEC enforcement attorney Marc Fagel has provided clarity on the ongoing legal battle between the SEC and Ripple, the company behind the cryptocurrency XRP. Fagel addressed speculation that the SEC might soon announce the end of its appeal, emphasizing that the regulatory process is more deliberate and time-consuming than many anticipate. He noted that internal voting and procedural steps within the SEC typically take a month or two, dispelling the notion that an announcement could come at any moment.

Ripple announced its readiness to drop its cross-appeal on June 27, 2025. However, the SEC has yet to formally withdraw its appeal. Fagel explained that this step requires an internal vote by the Commission, which has not yet occurred. Until this vote takes place, the appeal remains technically open. Once the SEC completes its internal process and approves the withdrawal, both parties must jointly notify the court. Only then will Judge Analisa Torres’s previous rulings and penalties fully take effect, officially closing the case.

Despite the excitement within the XRP community, there is no indication that the SEC will act immediately. Fagel emphasized that even if the Commission intends to drop the appeal, it typically takes a month or two to schedule and vote on an enforcement recommendation. Speculation that the SEC might use a weekend or early July meeting to announce a decision is misplaced. Fagel dismissed the significance of a recent July 3 closed-door SEC meeting, stating that such meetings are routine and unrelated to specific enforcement actions unless explicitly stated.

Legal experts suggest that, barring any complications, the appeal could be dropped within the next couple of months. This timeline aligns with Fagel’s understanding of how the SEC typically handles enforcement resolution. Judge Torres is no longer actively involved in the case. Her rulings stand, and there is nothing more for the court to do until both parties submit formal notice of appeal withdrawals. Once that happens, the court will automatically close the matter—no further hearings or judicial action are required.

Fagel’s detailed explanation outlines the path forward: the SEC must first vote internally to drop its appeal. Then, both sides will file a joint dismissal. Only after this procedural process is complete will the Ripple case be officially closed. His insight provides a much-needed reality check for the XRP community. While the legal endgame is clearly in motion, it will not arrive overnight. The wheels of regulatory enforcement, Fagel reminds us, turn slowly, but they do turn.