Ripple and SEC Have Not Withdrawn Appeals

There is a lot of talk online suggesting that the Ripple vs SEC lawsuit could suddenly end today. However, according to legal experts, that is simply not realistic.

Good to know

• Neither Ripple nor the SEC has filed to withdraw their appeals.
• The SEC’s internal process can take several weeks or months.
• If both appeals were dropped, the earlier court ruling would take effect.

Some people believe both sides are planning to drop their appeals, which would mean an immediate end to the case. But Marc Fagel, a former SEC lawyer, has dismissed that idea. He explained that no formal actions have been taken yet. In his words, “Anything is possible, but it would be very unusual.”

Fagel pointed out that SEC enforcement matters must first be scheduled for internal discussion before any votes can happen. That alone can take weeks. There is currently nothing on the record to suggest any such move is underway.

The speculation grew after the SEC held a closed meeting on July 3. Some assumed it was related to a Ripple settlement. Fagel disagreed, saying it was just a standard meeting and that if Ripple was discussed, it would not appear on any official agenda for some time.

Ripple CEO Brad Garlinghouse has said he would be open to ending the appeal. If both parties do withdraw, Judge Analisa Torres’ ruling would automatically become final. No further trial would be needed. But at this point, no filings have been made.

Fagel added that many people underestimate how slowly the SEC operates. While the crypto world moves quickly, regulators work on a very different timeline.

In short, the case could eventually come to a close—but not today.