Attorney Fred Rispoli provides a detailed outlook of the potential timeline for the SEC v. Ripple appeal in the U.S. Court of Appeals for the Second Circuit.
The lawyer issued the analysis after the SEC filed an appeal notice in the Southern District of New York yesterday. Following the development, Attorney Rispoli highlighted the process and potential timeline of the appeal resolution.
Opening Briefs Timeline
According to the lawyer, the SEC appeal brief will likely be due on December 2. However, he speculated that the commission might request a 30-day extension, potentially moving the deadline beyond January 1, 2025.
In this brief, the regulator will highlight the issues it wishes to appeal and explain to the Second Circuit why it believes Judge Analisa Torres’ ruling was incorrect.
Additionally, the legal expert expects Ripple to cross-appeal. The crypto payments company stated that it was considering whether to appeal the court’s verdict. If this happens, Attorney Rispoli projects that the company’s opening appeal brief will be due around the same time as the SEC’s.
Potential Timeline for Opposition and Reply Briefs
After the parties have filed their opening briefs, both sides would be expected to submit their opposition briefs. Attorney Rispoli predicts that the opposition briefs would be due by February 2, 2025.
Notably, he expects Ripple to request a 30-day extension that could move the deadline to March 2, 2025. With the opposition briefs due by March, the lawyer expects the parties to file their replies by the end of the month.
Oral Arguments
Furthermore, the lawyer explained that after the written briefs are submitted, the Appellate Court will schedule oral arguments between September and October 2025.
During this proceeding, the legal counsel representing the SEC and Ripple will physically present their cases, arguing why the court should rule in their favor.
Appeal Court Final Ruling
After the parties had presented their written and oral arguments, Attorney Rispoli predicts that the Appellate Court would issue its ruling in the case by early 2026. Specifically, he forecasts that the Second Circuit ruling in the Ripple case might come by January 2026 at the earliest.
Additionally, he believes the court could issue the decision in March or April 2026. Meanwhile, Attorney Jeremy Hogan also expects the Appellate Court ruling between late 2025 and early 2026.
