Renowned legal expert Bill Morgan suggests that the lawsuit between the SEC and Ripple is not entirely over despite the parties dropping their appeals.
Recent developments in the SEC v. Ripple lawsuit have continued to stir discussion within the XRP community, with enthusiasts questioning whether the case has finally ended.
Recall that Ripple announced it was dropping its cross-appeal against the SEC for a reduced fine of $50 million and the dismissal of the permanent injunction imposed on its future XRP sales. This move was in response to the SEC’s decision to unconditionally drop its appeal against Ripple.
Ripple Case Finally Over?
Following these developments, XRP enthusiasts indicate that the case has finally ended. In particular, an X user known as Ttmoto noted that the evidence suggests that the lawsuit is over. The user emphasized that the SEC will keep $50 million out of the $125 million fine and refund Ripple the remaining $75 million.
Further, the user dismissed speculation about a court filing date this month. They noted that no reliable source has confirmed an April filing date for the Ripple lawsuit.
For context, this filing date relates to the Second Circuit’s initial scheduling order, which required Ripple to file its cross-appeal motion and also respond to the SEC appeal. Per the order, Ripple must submit this motion on or before April 16, 2025.
However, with the parties dropping their appeals, Ripple will no longer comply with the order. Therefore, Ttmoto declared that the lawsuit was over, adding that the parties were documenting the settlement terms, which would be entered into the court record.
Top Lawyer Reacts
Responding, Attorney Morgan echoed, “It depends.” This suggests that while the overall case appears settled, some issues still suggest the matter is not completely over.
It depends
Sorry, couldn’t help myself https://t.co/k4CpquG0fI
— bill morgan (@Belisarius2020) April 4, 2025
So far, Ripple is the only party that has confirmed the dismissal of the appeal. The regulator has not officially confirmed whether it will no longer pursue the Ripple appeal.
According to Ripple and other sources, the appeal dismissal decision requires the commission’s vote before it becomes official. This vote is usually held during the SEC’s closed-door meetings and accompanied by an official announcement.
Since Ripple announced the appeal dismissal, the SEC has held this meeting twice–on March 27 and April 3, 2025. However, it did not issue a statement regarding the dismissal of the Ripple appeal.
Meanwhile, Attorney Fred Rispoli, founder of Hodl Law, suggested that the Ripple lawsuit will be completely resolved on or before May 24, 2025. On March 25, the lawyer predicted that the SEC would formally vote on the appeal dismissal decision within 30 days.
He added that Judge Analisa Torres will approve the decision within 30 days. Based on his analysis, Attorney Rispoli expects the lawsuit to be completely resolved by May 24, 2025. It remains to be seen whether the prediction will materialize.
Meanwhile, the crypto community is awaiting the SEC vote and subsequent statement confirming its decision to discontinue the Ripple appeal.
