- Procedural phase nearing completion; SEC decision pending.
- Ripple countersuit already dropped.
- Market reacts positively in anticipation.
Ripple Labs and the SEC remain engaged in litigation as procedural processes continue, with the SEC expected to finalize decisions by mid-August.
The continued litigation between Ripple and the SEC affects broader market sentiment and potential federal regulations.
Ripple Labs and the U.S. Securities and Exchange Commission (SEC) are in the procedural stage for a possible lawsuit resolution. Judge Analisa Torres has concluded judicial matters, while Ripple’s leadership is silent regarding any finalized dismissal.
The SEC’s internal voting may lead to a formal dismissal filing within one to two months, as Marc Fagel, former SEC director, stated. Meanwhile, no official statements have emerged from Ripple’s executive team.
XRP’s market activity remains robust, with prices rising following the 2023 legal clarity on its status. Speculation persists regarding institutional movements, like BlackRock’s interest. However, there’s no official confirmation of an XRP ETF filing.
Potential outcomes from the SEC’s decision could create a diminished regulatory risk for XRP, encouraging institutional participation. Historical cases, such as those against Block.one and Telegram, have settled similarly, influencing market dynamics and investor trust.
Investors await SEC action, with notable XRP price spikes and increased on-chain activity. The legal proceeding’s conclusion could redefine crypto regulatory frameworks and positively impact XRP and other token prospects.
Marc Fagel, Former Regional Director, SEC, emphasized the routine, procedural nature of the current phase:
“He emphasized that once the SEC internally votes on a dismissal, it typically takes one to two months for a formal filing … this is a procedural phase and the court is not actively involved until the final paperwork lands.”
