The long-running legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) is finally nearing its conclusion, with no party or judge currently holding up the case, according to legal experts.
Ripple Labs CEO Brad Garlinghouse recently announced that Ripple will drop its cross-appeal in the lawsuit, signaling an end to years of litigation. The SEC is also expected to drop its appeal, which would effectively close this chapter and allow both sides to move forward.
Federal Judge Analisa Torres has twice rejected joint requests from Ripple and the SEC to reduce Ripple’s $125 million civil penalty and remove the permanent injunction against the company. She emphasized that the injunction remains necessary due to the reasonable probability that Ripple could again violate securities laws.
Despite the SEC’s evolving regulatory stance and attempts to negotiate a lighter penalty, the court has maintained a firm position on enforcement.
The SEC has not yet formally filed a motion to dismiss its appeal, which means Judge Torres currently has no active role in delaying the case. The legal process now depends on the parties voluntarily dismissing their appeals. Former SEC lawyer Marc Fagel has confirmed that no one is holding up the case; it is simply awaiting procedural steps to finalize the resolution.
This resolution is expected to bring regulatory clarity to XRP and potentially pave the way for its relisting on major U.S. exchanges, which could boost liquidity and adoption. The case’s end will also likely influence future crypto regulation approaches, marking a significant milestone for the industry.
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