based on the material from the site - By Times Tabloid
Former SEC enforcement attorney Mark Feigel has dispelled the swirling rumors about a potential end to the long-running SEC lawsuit against Ripple. While some XRP supporters believe an announcement is inevitable, Feigel reminds the public that proceedings within the SEC do not move that quickly.
After XRP supporter John Squire wrote: 'The SEC could announce the end of the game at any moment...', Feigel sharply replied: 'Not on weekends, of course. Typically, voting on a recommendation for enforcement actions takes a month or two, so people need to calm down. There is a process.'
Ripple announced its readiness to withdraw its counter-appeal on June 27, 2025. However, the SEC has not yet officially withdrawn its appeal. According to Feigel, this requires an internal vote by the Commission, which has not yet taken place. Until that moment, the appeal technically remains open.
Once the SEC completes its internal procedure and approves the withdrawal, both parties must jointly notify the court. Only after that will the previous decisions and sanctions of Judge Analisa Torres take effect, officially closing the case.
This will not happen overnight
Despite the enthusiasm in the XRP community, there are no signs that the SEC will take immediate action. Feigel emphasized that even if the Commission intends to withdraw the appeal, 'it usually takes a month or two' for planning and voting on a recommendation for enforcement actions. Assumptions that the SEC may use weekend meetings or early July to announce a decision are misplaced.
He dismissed the significance of the recent closed SEC meeting held on July 3, stating that it 'does not tell us anything about Ripple's timelines'. In fact, such meetings are routine and not related to specific enforcement actions unless explicitly stated otherwise.
Legal experts suggest that, barring any complications, the appeal may be withdrawn within the next few months. These timelines align with Feigel's understanding of how the SEC typically resolves enforcement matters.
Feigel also clarified that Judge Torres is no longer actively involved in this case. Her decisions remain in force, and the court does not need to do anything further until both parties submit official notifications of the withdrawal of the appeal. Once this happens, the court will automatically close the case — no further hearings or court actions will be required.
Final steps to close the case
Feigel's detailed explanation outlines the further path: the SEC must first vote to withdraw the appeal. Then both parties will submit a joint motion to dismiss the lawsuit. Only after this procedural process is complete will the Ripple case be officially closed.
His opinion provides the XRP community with a much-needed assessment of the situation. While the legal conclusion has clearly already arrived, it will not happen overnight. Feigel reminds us that the wheels of regulatory enforcement turn slowly, but they do turn.
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