XRP Lawsuit Close To Settlement as August 15 Report Date Approaches

TLDR

• Ripple and SEC must file a joint status report on XRP by August 15.
• Both parties may dismiss their XRP appeals before the report deadline.
• Former SEC lawyer says XRP case is following routine legal procedures.
• Ripple already paid a $125M penalty; no further rulings are pending.

The legal dispute between Ripple Labs and the U.S. Securities and Exchange Commission may be approaching a resolution. Both parties are expected to file a joint status report on August 15 regarding the appeals process. Former SEC lawyer Marc Fagel has stated that Ripple and the SEC could dismiss their appeals before this date.

Fagel clarified that August 15 is not a final ruling deadline but a procedural date. He explained that while the court does not require dismissal by that day, the parties are likely to act before then. He noted that “they will try to do so before then,” referring to the dismissal filings.

The August 15 deadline has generated speculation among XRP supporters about the end of the lawsuit. However, legal experts have confirmed that it is only the date to submit a status update.

Marc Fagel emphasized that there is no requirement to settle or end the case by that date.

I believe that’s the date for the parties to report on the status of their appeals. It doesn’t mean it’s a hard deadline by which they must file their dismissal papers, but I assume they will try to do so before then.

— Marc Fagel (@Marc_Fagel) July 28, 2025

The appeal process has been paused, or held in abeyance, while discussions between the two sides continue. Any actual motion to dismiss the appeals must be filed in court for the case to end. As of now, neither Ripple nor the SEC has filed such paperwork.

Fagel also addressed the process required for the SEC to dismiss its appeal. He explained that the agency must complete an internal review and vote.

This process typically takes one to two months. Only after that can the SEC proceed with a dismissal motion.

“There is nothing for [the judge] to decide,” said Fagel, referencing Judge Analisa Torres. He added that neither party is delaying the case. Ripple has already paid its $125 million penalty, and the SEC is following standard procedures.

Ripple CEO Brad Garlinghouse previously mentioned the company’s intention to dismiss its appeal. However, as of now, no official dismissal motion has been filed by either side. Fagel warned that no conclusions should be drawn until filings are visible in court records.

He also confirmed that the SEC’s internal decisions are confidential. This means no updates will be made public until the dismissal documents are submitted. As a result, any predictions should be treated as speculation unless confirmed by court filings.

XRP holders continue to watch developments closely. A final settlement could remove long-standing legal concerns and affect Ripple’s operations in the U.S. But for now, all eyes remain on the court’s docket as August 15 approaches.