- The Ripple vs. SEC lawsuit is entering its final procedural phase, with both parties expected to formally dismiss their appeals soon.
- Former SEC official Marc Fagel clarified that the case has moved beyond Judge Torres.
- Originally filed in 2020, the lawsuit has shaped crypto regulation debates.
The legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) is now in its final procedural phase, according to a former top SEC official. The development puts to rest recent speculation suggesting that the case had been delayed or quietly stalled.
Legal Proceedings Near Resolution
Despite renewed market interest in XRP and growing online speculation, legal experts say the case is progressing as expected. Former SEC Regional Director Marc Fagel has stepped forward to offer insight into the situation, clarifying that no party is responsible for delaying the process.
Responding to comments via social media, Fagel noted that both Ripple and the SEC have agreed to dismiss parts of their respective appeals, and are now working through the final administrative steps required to officially close the case.
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“Nobody is holding up the case. Not the judge, not the SEC (which has a standard procedure to follow),” he said.
Nobody is holding up the case. Not the judge (there is nothing for her to decide), not the SEC (which has a standard procedure to follow, and will dismiss the appeal once the vote is taken, a process that typically takes 1-2 months).
— Marc Fagel (@Marc_Fagel) July 13, 2025
He added that the timeline for this type of legal conclusion typically spans one to two months, which aligns with the current state of proceedings.
Judge Torres Has No Further Role
Judge Analisa Torres, who previously presided over key rulings in the case, currently has no pending decisions left. Fagel noted in a separate tweet that the case is no longer in her hands.
“There is nothing pending before the judge; it’s now in the hands of the parties to simply dismiss their appeals, which they will do shortly,” he confirmed.
Then they resubmitted, and the court held they had failed to meet their burden, refusing to modify her order against Ripple. So there is nothing pending before the judge; it’s now in the hands of the parties to simply dismiss their appeals, which they will do shortly.
— Marc Fagel (@Marc_Fagel) July 13, 2025
This clarification comes after weeks of speculation from members of the XRP community, many of whom believed the lack of public updates indicated a potential holdup. Fagel’s remarks have effectively debunked those concerns, reinforcing the notion that the case is simply moving through its final legal motions.
Ripple Lawsuit in Retrospect
The SEC first filed its lawsuit against Ripple Labs in December 2020, alleging that the company had conducted an unregistered securities offering by selling XRP. The case quickly became one of the most closely watched legal battles in the crypto industry, with significant implications for how digital assets are regulated in the U.S.
After years of legal back-and-forth, a partial ruling in 2023 declared that Ripple’s programmatic sales of XRP did not constitute securities offerings. However, institutional sales were found to violate securities laws. Both sides subsequently filed appeals, which are now being dropped as part of the case’s final resolution.
What Comes Next?
The final chapter of the Ripple lawsuit now depends on the formal withdrawal of appeals by both parties. Once those filings are submitted, the case can be officially dismissed.
Until then, the XRP community and broader crypto industry are watching closely, awaiting confirmation that one of the sector’s most defining legal battles has finally come to an end.
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