The legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) is finally nearing an end. In a recent update, Ripple CEO Brad Garlinghouse announced that the company is officially dropping its cross-appeal against the SEC.
In a post on social media, Garlinghouse shared, “We’re closing this chapter once and for all, and focusing on what’s most important — building the Internet of Value. Lock in.” He also said that the SEC is expected to drop its appeal too, just as it had previously indicated.
Now, speculations are rising about whether the SEC might formally drop its appeal during a closed-door meeting scheduled for July 3, 2025.
Why July 3 Matters
According to the SEC’s official notice, a private meeting will be held on July 3 at 2:00 p.m. ET. The meeting is closed to the public and will cover various topics, including settlements, administrative proceedings, and litigation matters, which many in the crypto community believe could involve the Ripple case.
The meeting details were published under the Sunshine Act Notice, which lists the agenda as including the “resolution of litigation claims.” This has fueled rumors that the SEC might use this opportunity to officially vote on withdrawing its appeal.
What Legal Experts Say
Former SEC attorney Marc Fagel weighed in on the situation, clarifying that “there’s nothing further for Judge Torres to do. She already issued her final judgment a year ago, so once both parties have dismissed their appeals (which the SEC still needs to vote on), it will go into effect.”
Fagel explained that the only step left is for the SEC to hold a vote to drop its appeal, something that could very well happen during the July 3 meeting.
What’s Next for Ripple and XRP?
If the SEC drops its appeal, it would mark the official end of one of crypto’s longest and most closely watched legal battles. Ripple would finally be free to move ahead without the legal cloud hanging over it, and the XRP community is already beaming with excitement about what this could mean for the token’s future.
