- SEC’s delay in announcing Ripple case dismissal due to internal approval process; next decision expected after March 27 meeting.
- Ripple’s cross-appeal against $125M fine remains active, with negotiations ongoing to potentially end the four-year legal battle.
The U.S. Securities and Exchange Commission (SEC) has not yet made an official statement regarding its decision to drop the appeal against Ripple Labs, even though the company confirmed that the SEC has agreed to dismiss the case. This delay has puzzled many in the XRP community, with questions emerging about why the SEC has not yet issued a formal announcement.
Eleanor Terrett, a Fox Business journalist and host of the Crypto America podcast, recently explained the reasons behind this delay. According to Terrett, while the SEC has agreed to dismiss its appeal against Ripple, the agency must approve the decision internally before making any public announcement.
Not yet because the Commission still has to formally approve the withdrawal.
Once that happens, we’ll likely see a similar press release to the one the @SECGov put out about dismissing the lawsuit against @coinbase a few weeks ago.
The Commission usually deals with matters of… https://t.co/M961xc82BR
— Eleanor Terrett (@EleanorTerrett) March 20, 2025
She explained that the approval process involves a series of closed-door meetings where the commission discusses litigation matters. These meetings occur on Thursdays, but there was no meeting this week to discuss the Ripple case.
Terrett further suggested that once the SEC’s internal approval is granted, a public press release will likely be issued, similar to the one the SEC issued when it dismissed the lawsuit against Coinbase earlier in 2025.
Next SEC Closed-Door Meeting Scheduled for March 27
The next SEC closed-door meeting is scheduled for Thursday, March 27, 2025. Terrett expects that this meeting will address the Ripple appeal, and the commission will then issue a statement confirming the dismissal of the case. While the delay may seem unusual, the SEC’s internal procedures require careful handling of such matters before a formal statement is released.
Despite the delay in an official announcement, Ripple has already confirmed that the SEC has agreed to drop its appeal. However, this does not mean the legal battle between the SEC and Ripple is over.
While the SEC has dropped its appeal, Ripple is still progressing with its cross-appeal. This legal challenge concerns Ripple’s past sales of XRP to institutional clients, which were seen as violations of federal securities laws. A previous court decision has resulted in the company facing a $125 million fine and a permanent injunction.
According to our previous report, Ripple’s CEO, Brad Garlinghouse, has suggested that negotiations with the SEC are ongoing and could lead to dropping the fine and injunction. If this happens, it could pave the way for Ripple to dismiss its cross-appeal, bringing the four-year-long legal battle with the SEC to a close.
However, legal experts point to the Trump administration‘s policy changes and Ripple’s reported donation to Trump’s inauguration fund as potential factors. Additionally, Garlinghouse’s meeting with President Trump in January 2025 has fueled speculation about possible political influences on the case’s resolution.
Moreover, Ripple’s recent legal challenges were further complicated by the SEC’s dismissals of similar cases against companies like Coinbase and Robinhood earlier this year. These dismissals have added to the sense that the SEC is shifting its stance on certain crypto-related lawsuits.
