As the August 15 deadline approaches, the lawsuit against Ripple by the SEC may be nearing resolution. Former SEC attorney Marc Fagel believes both parties might drop their appeals.
Appeal Dismissals May Arrive Before Deadline
Marc Fagel pointed out that August 15 is the deadline for both parties to submit a joint status report, though it does not require the SEC or Ripple to file dismissal papers by that date. Dismissals may happen before the deadline, depending on internal reviews. Fagel emphasized that any agreement will not be publicly disclosed until appropriate filings are made.
Legal Process Follows Standard Timelines
Following Judge Analisa Torres’s denial of a joint motion for an indicative ruling, Ripple and the SEC continue with procedural steps. Ripple CEO Brad Garlinghouse has hinted at the possibility of dropping Ripple’s appeal, fueling optimism. However, Fagel reiterated that these actions require time, estimating that complete dismissal may take about two months.
Current XRP Price
At press time, XRP is priced at $3.17, reflecting a 3.02% drop in the last 24 hours. Ripple has already paid a $125 million penalty, and the appeals process is proceeding as expected.
The situation surrounding the Ripple and SEC case remains tense, and final outcomes will depend on the procedural reviews of the appeals. Speculation regarding possible agreements should await confirmation from official court filings.
