- The SEC’s removal of Ripple’s lawsuit from its website fuels speculation, but legal records confirm the case is still active.
- Ripple’s legal battle continues as the SEC appeals a ruling on XRP’s security status, with Ripple’s response due by April 16, 2025.
- XRP surged 400% post-election amid lawsuit optimism, but the SEC’s latest appeal signals the legal fight is far from over.
The U.S. Securities and Exchange Commission (SEC) has removed all references to its lawsuit against Ripple from its website. There is speculation about the status of the case, though legal records indicate that the lawsuit is still active. The case has been going on for over four years and is advancing to the Court of Appeals for the Second Circuit.
SEC Website Update Raises Questions
Legal experts have confirmed that the case is still listed in the PACER system, meaning no formal resolution has been reached. Despite this, the removal of the case from the SEC’s website has raised questions.
This is important because other ongoing lawsuits, including those against Kraken and Coinbase, are still on the site. Some believe this may indicate internal updates rather than any legal development regarding Ripple’s case.
Ripple and SEC Appeal
Ripple requested until April 16, 2025, to submit its response to the SEC’s latest appeal, following the agency’s filing on January 15, 2025. The SEC is challenging a previous ruling that declared XRP itself is not a security but classified Ripple’s direct sales to institutional investors as securities transactions.
The district court had determined that XRP sales through secondary trading platforms did not qualify as securities transactions. The SEC’s appeal focus is on whether retail investors expected profits based on Ripple’s promotional activities.
Ripple executives have dismissed the SEC’s appeal as a repetition of already rejected arguments. CEO Brad Garlinghouse criticized the move, while Chief Legal Officer Stuart Alderoty referred to it as a rehash of prior claims.
XRP saw a sharp increase in value following the 2024 U.S. presidential election, surging by over 400% as speculation that the lawsuit could be dropped under the new administration increased.
Despite this optimism, the SEC’s recent appeal suggests that the legal battle is far from over. The original $125 million civil penalty against Ripple remains in place, lower than the SEC’s initial $1 billion demand.
The outcome of the appeal ruling is expected to influence future digital asset regulations in the U.S. At the time of reporting, XRP was trading at $3.09, up by 49.05 in the past month.
