Ripple’s Lawsuit with SEC: Dismissal Rumor Sparks Speculation

Ripple’s ongoing legal dispute with the U.S. Securities and Exchange Commission (SEC) has once again captured the attention of the XRP community. Recently, observers noticed that the lawsuit had disappeared from the SEC’s litigation section, fueling rumors that the case had been dismissed.

However, further investigation revealed that the lawsuit had merely been reclassified under a different category on the SEC’s website.

Case Moved to SEC’s “Cases on Appeal” Section

Despite initial speculation, the Ripple lawsuit was not deleted but instead moved to the “cases on appeal“ section of the SEC’s website. This confirms that legal proceedings remain ongoing and have entered a new phase.

Attorney Shell Avocat addressed the confusion, emphasizing that the SEC’s website does not determine the case’s legal status. Instead, he directed attention to the nationwide PACER system, where court filings are officially recorded.

Upon reviewing PACER, Avocat confirmed that the last recorded entry was Ripple’s request for a time extension to file its brief. The case remains classified as “Active”, though this status could change as legal proceedings continue.

The Long-Running Legal Battle

The Ripple-SEC lawsuit began in December 2020, when the SEC accused Ripple and its executives of selling $1.3 billion worth of unregistered securities through XRP.

After years of litigation, a judge ruled in 2023 that XRP sales to retail investors did not constitute securities offerings, while institutional sales were classified as unregistered securities transactions. As a result, Ripple was ordered to pay a $125 million fine.

Both Ripple and the SEC have since appealed aspects of the ruling, keeping the case active in the legal system.

XRP Community Responds to Legal Update

The XRP community remains highly engaged with legal developments. Attorney Jeremy Hogan, a well-known crypto legal expert, confirmed that the case had not been dismissed but moved to the appeal section.

Reactions from the community varied:

• Some believed that the SEC’s removal of the case from the litigation section signaled an impending resolution.
• Others remained cautious, recognizing that both parties’ appeals indicate a continuing legal battle.
• Legal experts reassured the community that the case remains active, providing clarity amid speculation.

Conclusion

While the SEC’s website update briefly sparked rumors about the case’s dismissal, it has now been confirmed that legal proceedings are ongoing. The lawsuit remains in the appeals process, with no immediate resolution in sight.

For the XRP community, this serves as a reminder to rely on official legal sources rather than speculative social media updates when tracking developments in this landmark case.