Amid the anticipation for the XRP lawsuit settlement, a new twist emerged regarding the possible reasons for the delay. Following the failure of the closed-door meeting on July 17, the community began to analyze the reasons for the delay.
Meanwhile, Marc Fagel dismissed speculations that ongoing negotiations between the SEC and Ripple are causing the delay, despite previous agreements between both parties. In a post on X, "That is not the cause of the delay." He also clarified the possible cause of the delay in resolving the XRP lawsuit, citing the SEC's internal procedures, such as drafting action memoranda, division reviews, and scheduling votes for the commissioners. His statement said:
That is not the reason for the delay. Staff must draft their action memorandum. It must be reviewed by the divisions and scheduled for the commissioners' vote. But, please, keep lecturing a former senior SEC official about SEC procedures.
Previously, Fagel dismissed rumors that Judge Torres or the SEC were delaying the case. He pointed out: "No one is delaying the case." His latest tweet reiterates the idea that the settlement is delayed due to internal procedures, not deliberate actions.
Fagel argued that Ripple has already paid the $125 million fine in cash, rather than XRP. He added that this measure could not conclude the case, as the settlement depends on the appeal. This idea reinforces Fagel's argument that there are no other causes for the delay of the XRP lawsuit.