The post XRP Lawsuit Won’t End by July 14, Says Former SEC Attorney appeared first on Coinpedia Fintech News
The XRP community is on edge as rumors spread about a possible Ripple vs SEC settlement before July 14. But well-known lawyer Marc Fagel says it’s too early to expect anything and that a deal this weekend is unlikely.
The community is feeling anxious, especially since the SEC hasn’t said anything after Ripple’s dismissal request. A recent closed-door meeting by the SEC has added to the buzz, but lawyers are still saying there’s no reason to believe a weekend resolution is coming.
Why a Weekend XRP Settlement Is Highly Unlikely?
Fagel took to X to directly address growing rumors that Judge Analisa Torres might deliver a ruling or approve a settlement this weekend. He dismissed the idea, noting that enforcement recommendations typically take one to two months for SEC review and a formal vote. “Not on a weekend, they won’t,” Fagel responded. “There’s a process.”
He clarified that any settlement or decision from the court would not happen immediately, let alone over the weekend. Fagel emphasized that Judge Torres currently has no jurisdiction over the Ripple case, backing earlier comments by legal expert James K. Filan, who pointed out that there is no pending motion before her.
Fagel confirmed again that the SEC hasn’t filed to dismiss the appeal yet. Now that the appeal window has closed, the ball is in the SEC’s court. The agency must vote internally, and both parties would need to formally request to withdraw the case. This step-by-step process makes a quick weekend settlement highly unlikely.
What Sparked the July 14 Speculation?
The July 14 date became a talking point after some users speculated that Ripple initially aimed to end the lawsuit back in March, possibly to align with ISO 20022 updates. However, according to Fagel, there is no evidence supporting a preplanned settlement tied to that timeline. He also reiterated that recent case developments are unrelated to external standards like ISO.
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Gensler Not Involved, Says Fagel
In a follow-up to another claim, Fagel dismissed any connection between Former SEC Chair Gary Gensler and the decision to pursue the Ripple lawsuit. “The decision had nothing to do with Gensler,” he said, reiterating that the case was initiated in 2020, before Gensler assumed office. He went on to argue that if investors suffered losses, Ripple should be held accountable for allegedly selling unregistered securities, not the SEC.
With Judge Torres out of the picture for now and the SEC’s internal procedures still underway, any ruling or settlement before July 14 appears highly unlikely.
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FAQs
XRP achieved a significant partial victory. While institutional sales were deemed unregistered securities, programmatic sales on exchanges were not. The SEC later dropped its appeal, largely ending the main litigation.
The likely outcome is that the lawsuit will formally end with the SEC’s appeal being fully dismissed. This result establishes a precedent that XRP, when sold on public exchanges, is not considered a security.
The lawsuit is nearing its official end. Ripple has dropped its cross-appeal, and the SEC is expected to formally withdraw its appeal after an internal vote, which would conclude the nearly five-year legal battle.
Kaynak : CoinPedia
