XRP News Today: Ripple Withdraws Appeal in SEC Case, but Resolution Still Pending

The legal dispute between Ripple and the U.S. Securities and Exchange Commission (SEC) has reached a pivotal moment, with Ripple officially withdrawing its cross appeal. This development marks a significant shift in the protracted case, but legal experts emphasize that the lawsuit is far from resolved.

According to attorney Bill Morgan, Ripple's decision to withdraw its appeal indicates progress but does not conclude the matter. The SEC is still expected to vote on formally dropping its own appeal, a necessary step before the case can be considered closed. Until this vote occurs, the dispute technically remains active.

Judge Analisa Torres had previously rejected a joint request from both parties seeking approval for a settlement. The proposed settlement included reducing Ripple’s civil penalty to $50 million and lifting the injunction. However, with the judge declining to approve those terms, the injunction remains in effect.

Former SEC official Marc Fagel explained that the SEC’s initial internal vote only approved the proposed agreement. Since the court did not endorse the deal, the agency is now required to hold a new vote to dismiss the appeal entirely. Fagel emphasized that this vote is procedural but necessary.

The permanent injunction against Ripple continues to limit certain institutional activities. Legal analysts caution that distributing XRP through intermediaries could still raise compliance concerns under current securities law. The outcome depends on how the SEC chooses to enforce those laws moving forward.

Attorney Fred Rispoli commented that the timing of Ripple’s withdrawal was no coincidence. He noted that it came shortly after Judge Torres issued her final judgment, suggesting prior coordination between the two parties. Rispoli believes discussions happened privately and that both sides are working to close the case quietly.

Importantly, the 2023 ruling confirming that XRP is not a security when sold on public exchanges remains unchanged. This legal clarity continues to benefit retail investors and platforms that trade the asset.

Ripple’s latest step moves the case closer to a conclusion. However, the lawsuit remains technically active until the SEC holds its final vote to drop the appeal.

The case between Ripple and the SEC is nearing its end, but final closure depends on one last regulatory action. Legal experts maintain that the matter is not yet fully settled.