XRP News Today: Ripple vs. SEC Case May Resolve in Two Months

The legal dispute between Ripple and the Securities and Exchange Commission (SEC) over the classification of XRP is approaching its conclusion, with the cryptocurrency community closely watching for any developments.

Marc Fagel, a veteran securities lawyer, has offered his perspective on the expected timeline for the SEC's potential dismissal of their appeal. According to Fagel, the process could take up to two months, as the SEC is required to vote on the dismissal. This estimate is based on the standard procedure for the SEC to vote on enforcement recommendations, which usually takes one to two months. However, Fagel acknowledges that the process could be accelerated since the SEC has previously voted to dismiss the appeal in the context of a settlement agreement.

Fagel also addressed rumors about the potential impact of the July 10 SEC meeting on the Ripple lawsuit. He clarified that the closed-door meeting is a routine weekly session and that the agenda is confidential. Therefore, any speculation about the meeting's impact on the XRP lawsuit is unfounded. Fagel's analysis suggests that the July 10 meeting will have no bearing on the ongoing legal battle.

On June 28, Ripple CEO Brad Garlinghouse announced that the platform was dropping its counter-appeal against the SEC. However, Fagel pointed out that neither the SEC nor Ripple has officially dropped their appeals. Despite Garlinghouse's announcement, Ripple has not yet filed to dismiss its appeal. Fagel remains optimistic that both parties will eventually drop their appeals, noting that the SEC will promptly file its dismissal papers once the process is approved. This joint dismissal is expected to occur within the next two months, according to Fagel's analysis.

The potential resolution of the Ripple vs. SEC case is seen as a significant development for the broader cryptocurrency industry. A favorable outcome for Ripple could remove years of legal uncertainty surrounding XRP, potentially paving the way for greater adoption and integration within the financial ecosystem. However, the exact timeline for the case's settlement remains uncertain, and experts like Marc Fagel continue to monitor the situation closely.