The crypto community remains closely focused on the U.S. Securities and Exchange Commission (SEC) lawsuit against Ripple, hoping for a conclusion to the years-long case concerning XRP. Although Ripple withdrew its appeal, the SEC has not taken the same step. U.S. District Judge Analisa Torres has rejected the proposed settlement between the agency and Ripple, prompting further delays and continued uncertainty around the final resolution.

Legal expert Bill Morgan addressed the situation on social media platform X last week, noting: “The SEC has not withdrawn the appeal in the Ripple matter yet.” He explained:

There is no deadline on the SEC to withdraw the appeal. However, the SEC needs to report to the appeal court by 15 August 2025, which acts as a deadline for the SEC to do something, although it may just ask for more time. We will hear something about the matter in the next two weeks.

The SEC v. Ripple case, filed in December 2020, centered on whether Ripple’s sales of the XRP cryptocurrency were unregistered securities. A pivotal 2023 ruling by Judge Torres determined that institutional sales of XRP were securities, but programmatic sales on exchanges were not. The SEC and Ripple subsequently reached a settlement but Judge Torres denied the agreement to reduce the penalty and dissolve an injunction.

Despite the ongoing legal drama, XRP has recently gained significant traction due to several factors. The partial regulatory clarity from the court ruling has fueled institutional interest, with companies viewing it as a more viable asset. Its use as a fast, low-cost bridge currency for cross-border payments continues to attract treasuries and financial institutions. The growing possibility of a spot XRP ETF also provides a pathway for further mainstream adoption, with some companies beginning to add XRP to their treasury assets.

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