XRP News Today: Ripple vs SEC Case Nears End as Both Parties Drop Appeals

The legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) over the classification of XRP is approaching its conclusion, but the case is not yet fully resolved. Despite recent developments indicating that both parties are prepared to abandon further appeals, a final court dismissal has not yet been issued.

According to Marc Fagel, a former SEC official, the lawsuit remains technically active. On June 27, 2025, Ripple CEO Brad Garlinghouse announced that the company would withdraw its cross-appeal in the long-running lawsuit. This announcement followed the SEC's signal on March 19, 2025, to drop its appeal. These actions were widely interpreted as the end of a case that has lasted over four years and significantly influenced the regulatory environment for digital assets in the U.S.

However, Fagel clarified that the appeals have not been officially dismissed yet. He noted that the SEC must still hold a formal internal vote to withdraw the appeal before the court can process the dismissal. This legal nuance underscores that while parties can signal their intent to end a case, an actual court order is required to finalize the dismissal.

The case began in December 2020 when the SEC alleged that Ripple’s sale of XRP constituted an unregistered securities offering. A pivotal moment occurred 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. 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, which Judge Torres denied.

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. 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. The crypto industry is closely watching, awaiting the final signature on a lawsuit that has tested regulatory boundaries and redefined how digital assets are treated under U.S. law.