The long-running legal battle between Ripple and the US Securities and Exchange Commission (SEC) may finally be heading for closure. Particularly, a joint appeal dismissal from both parties could arrive in the middle of August. If that happens, the outcome would be a turning point for the entire Ripple and XRP ecosystem.
According to market commentator Vincent Van Code, the conclusion of the case could allow the long-awaited announcements from hundreds of companies bound by NDAs with Ripple, alongside the possibility of new XRP ETF filings from major institutions once legal clarity is finally established.
Ripple Vs. SEC Battle Nearing Its End
Ripple’s CEO, Brad Garlinghouse, announced on June 27, 2025 that Ripple has formally withdrawn its cross‑appeal concerning the SEC’s ruling on institutional XRP sales. The SEC is widely expected to follow suit and drop its appeal, although at the time of writing, no formal withdrawal had yet appeared in court filings.
However, an important procedural milestone is waiting on August 15, 2025, when both parties must submit a status report to the appellate court. Although this date isn’t a final deadline to end the case, legal experts, including former SEC attorney Marc Fagel, confirm it is the latest point by which progress must be reported.
The final resolution of the case will see the baggage finally removed from Ripple and its partners. According to Vincent Van Code, as many as 1,700 companies with non-disclosure agreements could begin revealing their work with Ripple or activating systems built on XRPL and XRP. These firms have likely stayed quiet due to regulatory uncertainty but are expected to step forward once the legal case is officially closed.
The analyst also noted that a wave of Spot XRP ETF applications may follow. Bitcoin and Ethereum are already benefiting from ETF products, and XRP is most likely the next in line if the lawsuit is resolved. Large institutional players, those that have avoided XRP during the legal standoff, might soon start trading XRP on the big stage using Spot ETFs.
Looking Toward August 15 – What Next?
Although not a court-imposed deadline, August 15 has become an important marker in the Ripple vs. SEC timeline, largely because both sides are expected to use it to confirm their intentions regarding the outstanding appeals. If those filings confirm a mutual withdrawal, it would confirm the official end of the legal proceedings and deliver the regulatory clarity the XRP investors have waited years to secure.
Ripple has already withdrawn its cross-appeal, having paid its $125 million penalty into a bank escrow and noted its desire to move on. The SEC has not yet dropped its appeal, and legal experts, including Bill Morgan, stress that there is no formal deadline. However, the expectation is that the SEC will either act or clarify its intention by around August 15. Otherwise, it may ask for more time.
If both parties dismiss their appeals, the May 2023 ruling by Judge Torres would become final. This will establish XRP as not a security when traded on public exchanges.
Featured image from iStock, chart from Tradingview.com
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