As the crypto world keeps its eyes on the long-running battle between Ripple and the U.S. Securities and Exchange Commission (SEC), speculation continues to swirl. Will Ripple face a harsh penalty? Could the court overturn past rulings? Or is a settlement truly close?
In the middle of the noise, a calm voice has emerged: former SEC lawyer Marc Fagel, who believes Judge Analisa Torres’ July 2023 decision ruling that XRP is not a security when sold on public exchanges will likely remain untouched.
His comments come at a time when tensions and theories are high, especially after a strange filing appeared in the court docket.
Despite persistent rumors suggesting the court may reverse its stance, Fagel dismissed the idea. In a recent post on X, he stated that Judge Torres is unlikely to revoke her ruling. Instead, both Ripple and the SEC are now expected to shift their focus toward agreeing on appropriate penalties and remedies.
This aligns with recent moves from both parties. Ripple withdrew its cross-appeal, and the SEC dropped plans to contest part of the ruling—both signs of a potential settlement phase.
A Strange Filing, Brushed Off as Spam
Adding a layer of mystery to the case, a man named Justin W. Keener attempted to file what he described as “decisive evidence” in favor of Ripple and the American people. The filing raised eyebrows across the XRP community, but Fagel quickly downplayed it.
“It’s a filing by someone not authorized to appear in the case,” Fagel explained. “It’s the equivalent of spam getting through the court’s filter, and will be deleted.”
This unexpected event, while entertaining for some, won’t likely affect the case’s direction. Still, it underscores just how closely the crypto community is watching—and how eager many are to influence the outcome.
Legal analysts, including attorney Fred Rispoli, suggest the Ripple vs. SEC lawsuit could wrap up in the next couple of months. Ripple’s recent strategic moves—like its dropped cross-appeal—signal a willingness to close the chapter, while the SEC appears to be scaling back its aggressive stance.
Still, nothing is final. The next key steps involve negotiating fines and remedies, and these discussions could drag on depending on how hard either side pushes.
Clarity for XRP and the Crypto Market
If Judge Torres’ ruling holds and Fagel is right, XRP’s regulatory clarity will be a major win not only for Ripple but for the broader crypto industry.
The case has become symbolic of the wider debate over how digital assets should be classified. A firm conclusion could provide much-needed guidance for other crypto firms navigating the murky U.S. regulatory landscape.
Until then, the market waits. But with experts pointing to a wrap-up soon, and no signs Judge Torres will walk back her earlier decision, the end may finally be in sight.
