Some People Think Ripple-SEC Case Isn’t Over Yet. Here’s why

Crypto analyst Vincent Van Code (@vincent_vancode) recently commented on the U.S. Securities and Exchange Commission (SEC) withdrawing its appeal in the Ripple lawsuit. The SEC previously challenged a part of the court ruling, creating uncertainty about XRP’s regulatory status.

Now that the SEC is dropping its appeal, Van Code emphasized that this resolves the most critical issue for XRP and the broader cryptocurrency industry.

Following the announcement, XRP’s price reacted positively, reflecting renewed market confidence. Despite this development, some crypto community members still question whether the case is over.

Community Concerns About Ripple’s Appeal

While many investors welcomed the SEC’s decision, others pointed out that Ripple still has its appeal pending. One commenter noted that while the SEC’s move was positive, “no one knows for certain what the exact direction Ripple wants to go with it.” He hoped Ripple would continue its appeal to push for broader regulatory clarity and potentially lift restrictions on XRP’s use in the U.S.

Van Code responded by stating that the remaining legal matters are standard business litigation. He emphasized the importance, saying that the SEC’s appeal “casted FUD again on XRP future” and that withdrawing it resolves the central issue for XRP and the broader cryptocurrency industry.

He described the current state of the case as business as usual, comparing it to other cases involving major financial institutions like JPMorgan, as it does not pose a fundamental threat to XRP’s future.

Final Court Filings and Ripple’s Penalty

Another concern among community members is whether the lawsuit is officially over. In August 2024, the court ruled that Ripple should pay a $125 million penalty for violating securities laws. One commenter argued that the fine still needs to be addressed and that the judge has not issued a formal ruling on the dismissal.

Van Code responded to these concerns, explaining that the final ruling has been handed down and the $125 million penalty is already in escrow. He also pointed out that Ripple executives Brad Garlinghouse and Stuart Alderoty have confirmed the SEC Commissioners will vote on the matter at their next meeting. Following the vote, the final court filings will be submitted, marking the formal conclusion of the case.

After the SEC agreed to drop its appeal, Garlinghouse took to X to celebrate, declaring that “the future is bright” and the community is excited as XRP is now free to take its place at the top of the market.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

---

Follow us on X, Facebook, Telegram, and Google News