Eleanor Terrett, host of the Crypto America podcast, explains why the SEC has yet to issue an official statement dismissing the Ripple appeal.
With Ripple announcing that the SEC has dismissed its appeal, some XRP enthusiasts wonder why the commission has not issued an official statement reflecting this decision. As a result, these users took to X to question the rationale behind this delay.
Why SEC Has Not Officially Announced Ripple Appeal Dismissal
Responding, Terrett suggested that even though the SEC has agreed to dismiss the Ripple appeal, it must approve the decision internally before making any public statement.
Once approved, Terrett noted that people should expect a press release similar to the one the SEC issued after dismissing the Coinbase lawsuit a few weeks ago.
According to Terrett, the SEC usually handles litigation and enforcement matters during its closed-door meetings. While the agency usually holds these meetings on Thursdays, it did not schedule one for this week.
Notably, the pro-crypto journalist disclosed that the next SEC’s closed-door meeting is scheduled for next Thursday, March 27, 2025. During the meeting, she expects the SEC to address the Ripple appeal and subsequently issue a statement dismissing the case.
While the SEC has yet to make a public statement about dismissing the Ripple appeal, the company confirmed the commission has dropped its appeal.
Ripple Case Still Alive
Despite this decision, the Ripple case is still alive as the company has yet to also drop its cross-appeal against the commission.
This case relates to Ripple challenging a court decision on its past XRP sales to institutional clients. Notably, Judge Analisa Torres ordered a $125 million fine and a permanent injunction against Ripple for violating federal securities law.
Ripple CEO Brad Garlinghouse suggested that the company is negotiating with the SEC to drop the fine and permanent injunction.
If this happens, or the SEC makes a better offer, Ripple might also dismiss its cross-appeal against the regulator, potentially ending the lawsuit that has lingered for over four years.
