XRP Lawsuit Nears End: SEC's Appeal Dismissal Awaits Formal Process

The protracted legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) is inching closer to a definitive conclusion. While Ripple has officially withdrawn its cross-appeal, the final chapter of the lawsuit hinges on the SEC formally dismissing its own appeal, a process that requires internal procedures and joint filings. This development follows a federal judge's rejection of a joint request from both parties to amend the previous ruling's penalty and injunction.

The Procedural Road to Finality

Despite widespread relief in the XRP community, the lawsuit is not yet officially over. According to former SEC attorney Marc Fagel, the regulatory body must undertake an internal vote to authorize the dismissal of its appeal. Following this, both Ripple and the SEC are required to submit the necessary formal paperwork to the court to finalize the dismissal. This multi-step process, while expected, means the ultimate resolution could still take "several weeks, or even longer," despite hopes for a swifter outcome. The SEC had previously voted to dismiss the appeal as part of a conditional settlement, but that contingency was not met. Nevertheless, experts maintain that the SEC is highly likely to proceed with an outright dismissal now.

Impact of Clarity and Market Anticipation

A conclusive end to the legal saga would bring much-needed regulatory clarity for XRP, potentially unlocking significant opportunities for the digital asset, including the prospect of a spot XRP ETF. Ripple CEO Brad Garlinghouse has already indicated the company's focus will now fully shift to "building the Internet of Value." While XRP's price saw a positive reaction to Ripple's appeal withdrawal, the lingering procedural uncertainty surrounding the SEC's formal dismissal has moderated further gains. The market remains keenly observant, anticipating the official announcement that will close this long-running chapter in cryptocurrency legal history and pave the way for XRP's future.