The Ripple vs SEC lawsuit is among the biggest crypto battles, whose outcome is eagerly awaited. More than four years ago, the U.S. Securities and Exchange Commission accused Ripple Labs and the executives of conducting an unregistered securities offering, citing their $1.2 billion XRP token sale. As the SEC argued that XRP is a security, the token’s price struggled. Notably, the impact was also visible on the broader crypto market until they dismissed the appeal. However, it’s not formally over yet, not until the court approves the SEC’s filed status report.
Ripple vs SEC Lawsuit Appeals Dismissed, But It’s Not Over
On August 7, the Ripple vs SEC lawsuit came to a near end as both parties filed a joint dismissal of their respective appeals. Experts acknowledged it as the conclusion of the lawsuit, which began in December 2020.
Notably, the dismissal came from both sides, led by Ripple’s cross-appeal withdrawal and followed by the SEC after internal voting.
#XRPCommunity #SECGov v. #Ripple #XRP BREAKING: The parties have filed a Joint Dismissal of the Appeals. The case is over. pic.twitter.com/QMATRLnxnS
— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) August 7, 2025
As this closes, both parties will cover their legal costs, and Ripple will pay $125 million, much lower than the initially $2 billion. However, a restraint on the future institutional XRP sale remains.
Interestingly, despite this, XRP has been officially recognized as ‘not security,’ yet the formal closure on the case remains.
SEC Files Status Report, Court Approval Will End Ripple Lawsuit
Despite the XRP lawsuit being considered closed, former federal prosecutor James K. Filan revealed a new update on the case. In an X post today, he shared the SEC’s status report, dated August 16, in which the SEC updated the U.S. Second Circuit on the progress of the case, in line with the June 16 directive.
- Source: James K. Filan, SEC Status Report
If the U.S. Second Circuit approves the joint dismissal, then the Ripple vs SEC lawsuit can formally end. Notably, this would be considered a turning point for the U.S. crypto regulations, as SEC Chair Paul Atkins comments.
After this, Ripple will pay the penalty for institutional sales and will require the company to register to make such sales decisions.
Crypto community member Sherrie adds that the status report filing is late. Moreover, she adds that this report is filed as the Court of Appeals has not officially approved the joint stipulation of dismissal.
- Source: Sherrie, Comments on Ripple vs SEC Lawsuit Updates
Notably, she claims that this would not have been necessary if the Court of Appeals had approved the stipulation earlier. Ultimately, she also concluded that the case is over now as “Ripple has their waiver and they can conduct business.”
Frequently Asked Questions (FAQs)
No, the case is not officially over, as the U.S. Second Circuit is yet to approve their dismissal filing.
As soon as the U.S. Second Circuit court approves the joint stipulation of dismissal submitted by both parties, the lawsuit will end.
Yes, XRP is now officially ‘not a security.’
Pooja Khardia
Pooja Khardia is a seasoned crypto content writer with 6+ years of experience in writing, including in blockchain, cryptocurrency, DeFi, and digital finance reporting. In her adventure journey, she is currently working with CoinGape Media and leading their Trending Section.
Here, she uses her expertise to deliver analytics, market insights, price predictions, and information on what’s trending in the crypto space, aiming to keep the crypto and web3 community updated with market trends and important insights.
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