The ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) is nearing a crucial moment. The following status report in the case is due on August 15, and XRP supporters are eagerly waiting for updates while actively discussing the matter on social media platform X.
Former SEC Official Provides Insight
Former SEC regional director Marc Fagel addressed the community’s expectations surrounding the lawsuit. He clarified that, at present, the courts have no pending actions. Fagel explained, “The appeal remains on hold until the August 15 status report. If both Ripple and the SEC dismiss their appeals by then, the case effectively ends. If not, the appeals will remain active.”
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This statement has resonated with many XRP holders who are closely watching whether both parties will take the final steps to dismiss the long-running legal fight. In June, Ripple announced that it would drop its cross-appeal in the nearly five-year lawsuit. The SEC is also expected to follow the same course. Despite this, final confirmation is still pending, leaving the community waiting for official action.
Bill Morgan Clarifies Community Misconceptions
XRP enthusiast and legal expert Bill Morgan recently addressed circulating misconceptions. He emphasized that there is currently no court decision awaiting action. Morgan highlighted that SEC commissioners must first vote on dismissing the appeal before both parties can officially drop their respective appeals.
Although Ripple and the SEC have already signed a conditional settlement agreement requiring both appeals to be dismissed, Morgan noted that the conditions were not fully met. “Until both sides dismiss their appeals, they remain formally active,” he stated.
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Morgan shared his outlook on the approaching deadline, suggesting that dismissal could occur before August 15. “It is more likely than not that the appeals will be dismissed before the status report. However, August 15 is not a strict deadline. The parties could even request another extension, though it seems unlikely,” he remarked.
As the date approaches, the XRP community remains cautiously optimistic, hoping for a decisive step toward finally ending the legal dispute.
