The long-awaited trial between Ripple and the SEC may soon come to a close, as predicted by attorney Marc Fagel. Speculations suggest the SEC will withdraw its appeal within one to two months, potentially concluding this legal saga.
According to Fagel, former SEC attorney, the process of withdrawing the appeal against Ripple will likely follow standard procedure, requiring an SEC vote. While this process typically takes one to two months, the fact that the SEC has already voted in favor of withdrawal as part of a settlement agreement could allow for a faster timeline.
“It should normally take 1 to 2 months for the SEC to vote on an enforcement recommendation, but it could be faster here, since they’ve already voted to withdraw the appeal as part of the settlement agreement. So it’s more of a formality,” Fagel stated.
Additionally, a meeting took place yesterday and news could be announced as early as today according to some analysts.
Although Ripple CEO Brad Garlinghouse announced that the company is dropping its appeal, neither Ripple nor the SEC have officially withdrawn their appeals to date. Fagel emphasizes that the standard process must be followed, but remains optimistic about a joint withdrawal of appeals by both parties.
“Nobody has withdrawn anything yet. There is a standard procedure that the SEC must follow, and it typically takes a few weeks or more. Once approved, the SEC will promptly file its withdrawal documents, likely jointly with Ripple. All in due time.”
While the exact duration of the lawsuit resolution remains uncertain, experts like Marc Fagel agree that it should not exceed two months. With the end of the trial in sight, the XRP community is preparing to turn the page on this long-running legal saga.
Currently at $2.59, a termination of the SEC’s appeal could well propel the XRP price in the coming weeks. A breakthrough of $2.65 could already take it to the next resistance level of $3. It will be important to monitor SEC statements today.
In summary, it’s now just a matter of formality. Especially since the SEC has demonstrated a major shift in its regulatory approach in recent weeks since Trump’s arrival and the appointment of the new SEC chief.
Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
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