The long-running XRP lawsuit has taken another unexpected turn, and this time, it’s left even legal experts scratching their heads. The U.S. SEC has officially confirmed that the Ripple lawsuit is now fully in the appeal phase. In a letter to Judge Analisa Torres, the agency urged the court to reject a new emergency filing from Justin Keener—an outside individual previously sued by the SEC—who requested to present what he called “decisive evidence” in the case.
According to the SEC, such a request is improper because the district court no longer has authority over the matters in question, which are currently being reviewed by the Second Circuit Court of Appeals.
Crypto lawyer Bill Morgan recently highlighted a strange contradiction in the ongoing Ripple vs SEC case that’s raising fresh doubts about where things actually stand.
The Mysterious Filing and SEC’s Reaction
It all started when Justin W. Keener, who previously faced legal trouble from the SEC, submitted a surprise filing in the Ripple case. Keener claimed he had key evidence that could influence the outcome of the lawsuit. However, legal analysts quickly dismissed it as irrelevant, with some even calling it “spam.” Still, the SEC took the time to respond, saying the filing was improper and should be denied because the case is still under appeal. That’s where things got confusing.
Wait—Is the Appeal Still Alive?
The SEC’s official response stated that the court no longer has jurisdiction over the matter because it’s still being appealed. But Ripple had previously told the court that both the SEC’s appeal and Ripple’s cross-appeal were settled. That means either someone is mistaken—or the two sides don’t agree on whether the case is truly over. Bill Morgan called this contradiction “odd,” and it’s now fueling more uncertainty around the final outcome.
One community member, Danny, hinted that something major could be happening behind the scenes, pointing to the urgency of the mysterious emergency filing.
Why It Matters
However, this isn’t just a paperwork issue. The XRP lawsuit is a big deal for the entire crypto market. How it ends could shape how U.S. regulators treat other digital assets in the future. With one side saying the legal battle is settled and the other claiming it’s still ongoing, there’s more confusion than clarity at the moment.
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FAQs
Yes, the SEC confirmed the case is still under appeal with the Second Circuit Court, contradicting earlier reports of a settlement.
The SEC denied an outside emergency filing, saying the case is in active appeal and outside the district court’s jurisdiction.
