Ripple’s Legal Victory in Doubt as SEC Signals Case Still Active

Ripple claims victory, but SEC filings reveal the case is still active, sparking confusion across the XRP community.

Fridah Kangai
April 9, 2025
5:16 pm

Fridah Kangai

Fridah Kangai is a dedicated crypto journalist with a sharp eye for market trends, blockchain innovation, and digital asset movements. She specializes in breaking down complex topics into clear, engaging stories for both seasoned investors and curious newcomers. With a passion for decentralization and a pulse on the ever-evolving crypto space, Fridah delivers timely, accurate, and insightful coverage. Her work bridges the gap between technology and everyday understanding in the world of cryptocurrency.

Ripple says the appeal is settled, but the SEC insists the case remains under active appeal.
A new motion filed by a third party adds urgency, but the SEC denies its relevance to Ripple’s case.
Attorney Bill Morgan exposes a contradiction in the SEC’s filing, questioning the true status of the appeal.

Ripple desperately claims to have settled its lawsuit with the US Securities and Exchange Commission, but the reality appears different. Ripple maintains that the appeal and cross-appeal are settled, but the SEC continues to evaluate the case status.

Attorney Bill Morgan pointed out the disagreement between Ripple’s official settlement statement and SEC court documents in their recent communication. The authorities filed a statement with Judge Analisa Torres stating that the appeal status remains pending, although Ripple tries to present a different picture.

Such an odd thing that Ripple say the Appeal and Cross-Appeal is settled but the SEC writes to Judge Torres that the matter is still on appeal. Settled but not quite over. https://t.co/TpNv2DcKoE pic.twitter.com/XFAKJAzUUP
— bill morgan (@Belisarius2020) April 9, 2025

Ripple’s previous announcement revealed the settlement’s progress, which included both parties dropping their appeals and Ripple agreeing to pay $50 million. The proposed penalty decreased substantially to $50 million against either of the originally suggested amounts, illustrating the probable resolution of the case.

The SEC released an official document concerning an “emergency request to provide decisive evidence,” which creates additional uncertainties. Effective counsel Justin W. Keener submitted the request to confirm Ripple’s stance in the ongoing legal dispute.

Keener failed to convince the SEC that his motion should proceed as the Second Circuit Court now has authority over the case. According to the agency, Keener did not properly execute the legal procedures necessary for such interventions.

Contradictions Surface as SEC Holds Firm on Appeal Status

During the SEC’s court response, lawyer Bill Morgan highlighted the major contradiction in the SEC’s position. According to the SEC, Ripple’s legal brief for appeal must be filed the following week despite the public belief in a settlement outcome.

The XRP community expressed confusion about the legal outcome because of the announced settlement and ongoing court proceedings stated by the SEC. The Security Commission has not officially stated details about resolving the appeal process.

Social media users reacted differently to this language because court documents commonly employ formal wording. According to various observers, public statements from Ripple have not driven the SEC to clarify the situation.

The present legal status of XRP remains ambiguous because SEC investors await definite confirmation of its status. Ripple’s legal determination faces uncertainty because both parties have delivered conflicting communications about its fate.

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