A growing sense of anticipation surrounds the Ripple and U.S. Securities and Exchange Commission (SEC) legal battle as the August 15 deadline approaches. However, retired SEC lawyer Marc Fagel has dismissed the notion that the date marks a final ruling, explaining that it simply serves as a filing deadline.
According to Fagel, Judge Analisa Torres has the authority to rule on the pending motion at any time, regardless of the August 15 timeline. The statement is a retaliation to the sentiments felt by the population marred by social media, which has seen some sections claim that the U.S. was taking too long over the much-talked-about case.
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This was clarified by comparing the regulatory moves by the U.S. and Canada. After renewed optimism led to a rise in XRP supporters, the Canadian authorities approved two spot XRP exchange-traded funds (ETFs) on June 18. In response, the approvals caused XRP to grow by 8.69 percent in price and then experience withdrawals due to macroeconomic statistics.
Numerous participants in the cryptocurrency subculture see U.S. hesitation as a lost chance. A social media user noted that while Canada moves forward, U.S. regulators continue to stall decisions that could unlock institutional investment into the XRP ecosystem.
XRP ETF Filings Hang in the Balance as Court Decision Looms
Marc Fagel emphasized that while August 15 is essential for procedural purposes, it does not guarantee a ruling on that day. Depending on how she assesses the filings and arguments, the judge may issue her decision days or even weeks afterward.
Ripple’s legal fate has wider implications for the digital asset industry, especially as several firms have filed for spot XRP ETFs in the U.S. These submissions are still awaiting resolution pending the court’s future direction on the regulatory status of XRP and its prior sales.
A favorable decision would change the perception of the market and create a potential opportunity to involve higher participation by institutions. It would also place the company Ripple in a good position to take a long-awaited step toward listing publicly. The question is yet to be decided by Judge Torres.
Marc Fagel’s clarification does not mean that August 15 is the sure date of the ruling. The court maintains the right to pass judgment at any time, and it is possible that a verdict on the future of Ripple and any XRP-related ETFs can be announced unannounced.
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