SEC’s Secret Meeting: Is XRP Lawsuit Toast? 🤔

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Ah, the Ripple vs. SEC case – a veritable soap opera of twists and turns, keeping us all on the edge of our seats. The latest development, a closed-door meeting at the SEC, has set tongues wagging once more. Posts on X (because, of course, that’s where all the cool kids hang out) claim that the agency may soon drop its appeal, with one particularly excitable post suggesting it could happen as early as today. 🤯

But, as with all things in life, the truth is rather more complicated. It appears that the case still rests with the court, and only Judge Torres can finalize a settlement. Or can she? 🤔 Former SEC attorney Marc Fagel rode into the fray, clarifying that Judge Torres has no further role in the case. Ah, the plot thickens! 📚

Judge Torres: A Relic of the Past?

According to Fagel, there’s currently nothing pending before Judge Torres. She’s already ruled on the matter, finding Ripple in violation of securities law and slapping them with a $125 million penalty. It seems her work here is done. 👋

No. The parties can drop their appeals, at which time her order against Ripple takes effect. Judge Torres has no further role in this.

— Marc Fagel (@Marc_Fagel) July 4, 2025

So, it seems the ball is now firmly in the court of the SEC and Ripple. Will they proceed with their appeals, or dismiss them and move on with their lives? Only time will tell. ⏰ Fagel, for one, expects both parties to file to dismiss their appeals. But, as we all know, the best-laid plans of mice and men often go awry. 🐭

Ripple CEO Brad Garlinghouse recently announced the company’s intention to drop the appeal, but Fagel notes that no official filing has been made yet. Ah, the suspense is killing us! 😱

No Set Timeline: Because Who Needs Deadlines, Anyway?

The recent closed-door SEC meeting on July 3rd had everyone expecting some juicy updates on the case. Alas, Fagel explains that it was just a regular weekly meeting, with an agenda likely set before the recent court ruling. 📅

According to Fagel, the appeals process could take weeks, months, or even years (because, why rush, right? 🙄). But, on the other hand, a faster resolution could also happen. After all, the SEC has already voted once to dismiss, so perhaps they’ll expedite the process. Or perhaps not. Who knows? 🤷‍♀️ There’s “no set timeframe,” Fagel says, leaving us all to stew in uncertainty. 😩

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2025-07-04 16:07