Ripple vs SEC Case Still Unresolved as Final SEC Vote Remains Pending

Ripple’s legal dispute with the U.S. Securities and Exchange Commission (SEC) has taken another turn, as the company officially withdrew its cross appeal. While this signals a major shift in the long-standing case, legal experts stress that the lawsuit is not fully resolved.

According to attorney Bill Morgan, Ripple’s move indicates progress but does not conclude the matter. The SEC is still expected to vote on formally dropping its own appeal, a necessary step before the case can be considered closed. Until then, the dispute technically remains active.

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Judge Analisa Torres had earlier rejected a joint request from both parties seeking approval for a settlement. The proposal included reducing Ripple’s civil penalty to $50 million and lifting the injunction. However, with the judge declining to approve those terms, the injunction remains in effect.

Former SEC official Marc Fagel explained that the SEC’s initial internal vote only approved the proposed agreement. Since the court did not endorse the deal, the agency is now required to hold a new vote to dismiss the appeal entirely. Fagel emphasized that this vote is procedural, but necessary.

The permanent injunction against Ripple continues to limit certain institutional activities. Legal analysts caution that distributing XRP through intermediaries could still raise compliance concerns under current securities law. The outcome depends on how the SEC chooses to enforce those laws moving forward.

Legal Experts Say Final SEC Vote Still a Key Step

Attorney Fred Rispoli commented that the timing of Ripple’s withdrawal was no coincidence. He noted that it came shortly after Judge Torres issued her final judgment, suggesting prior coordination between the two parties. Rispoli believes discussions happened privately and that both sides are working to close the case quietly.

Importantly, the 2023 ruling confirming that XRP is not a security when sold on public exchanges remains unchanged. This legal clarity continues to benefit retail investors and platforms that trade the asset.

Ripple’s latest step moves the case closer to a conclusion. However, the lawsuit remains technically active until the SEC holds its final vote to drop the appeal.

Conclusion

The case between Ripple and the SEC is nearing its end, but final closure depends on one last regulatory action. Legal experts maintain that the matter is not yet fully settled.

Also Read: Ripple Ends Legal Feud With SEC as Both Parties Drop Appeals

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