After months of speculation and rumors, the long-running legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) appears to be inching toward a turning point. Although many in the crypto community expected the SEC to withdraw its appeal in the case, it hasn’t done so yet, prompting fresh debate about the timeline and outcome of the lawsuit.
SEC Still Silent on Appeal Withdrawal
Crypto lawyer Bill Morgan, who has closely followed the Ripple-SEC case, confirmed that the SEC has not yet withdrawn its appeal. While there is no strict deadline for the SEC to do so, the commission is expected to provide an update to the appellate court by August 15, 2025. According to Morgan, that date serves as an informal deadline for the SEC to either act or request more time.
The SEC has not withdrawn the Appeal in the Ripple matter yet. 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…
— bill morgan (@Belisarius2020) July 29, 2025
“We should hear something within the next two weeks,” Morgan said, pointing to the pressure building up around the SEC’s next move.
Experts Weigh In: Delay Possible, but Unlikely
Another industry expert said that delays are still possible due to the SEC’s bureaucratic structure. “The SEC is a government agency and tends to move slowly and it can take months for them to review and approve actions,” the expert said. “But will they act before August 15th? I’m betting yes. Probably more likely than not.”
SEC no doubt is a bureaucracy, and takes months to approve and sign off on things. Will they make it before Aug 15th, I am betting more likely than not.
But yes, they can (jointly) after to more time.
Given Trump’s pro crypto stance and driving things aggressively, I would be…
— Vincent Van Code (@vincent_vancode) July 29, 2025
The expert also said that both Ripple and the SEC could jointly file for more time if needed. However, with the 2024 U.S. election bringing in a more pro-crypto stance under President Donald Trump, the expert said the political climate could push regulators to act faster.
Legal Veteran Marc Fagel Shares Insight
Former SEC official and legal expert Marc Fagel added more context, saying that internal processes within the commission take time. “It can typically take one to two months for the SEC to vote on an enforcement recommendation,” Fagel said. “We don’t even know when that recommendation was submitted to the commissioners.”
Fagel also said that Ripple is likely waiting for the SEC to dismiss its appeal before making a joint filing. “Ripple said they would, but they haven’t yet–presumably waiting until the SEC approves dismissing their own appeal so they can file something jointly.”
