$XRP As the enduring legal clash between Ripple Labs and the U.S. Securities and Exchange Commission edges toward another critical procedural juncture, interest is turning to whether both entities will comply with the court-mandated cutoff of August 15.

That day signifies the due date for presenting a shared progress summary, which is projected to illuminate the condition of lingering appeals in the dispute. The prospect of a definitive outcome or continued postponement has triggered heightened examination of the entities’ probable approaches.

In a fresh exchange on the X platform, ex-SEC legal expert Marc Fagel shared viewpoints on what might transpire by mid-August. Addressing an inquiry from Zach Rector, who probed the chances of Ripple and the SEC relinquishing their appeals by the cutoff, Fagel remarked that both entities are strongly driven to submit dismissals by that point or to be ready to assure the court that such dismissals are underway.

💥Implications for Case Resolution

Fagel’s comment stokes theories that both factions could be striving to finalize the unresolved procedural elements swiftly. Though he steered clear of offering an exact prediction, his analysis suggests that sensible motives are shaping the scenario.

Per Fagel, the entities are spurred to address the pending appeals to sidestep further judicial entanglement or the possibility of seeking extra time. Toward the close of June, Ripple declared its plan to retract its counter-appeal.

Watchers similarly foresee the SEC mirroring this move, yet no official cancellation has been logged. Thus, the approaching August 15 progress summary holds weight, as it might substantiate whether Ripple and the SEC are acting on their prior hinted commitments.

💥Will Both Entities Conclude the Litigation?

When pressed for more detail, Fagel observed that both factions aim to discard the appeals, hinting that neither would relish revisiting the appellate court ill-equipped or petitioning for additional delays. He posits they seek to avert needless holdups, a notion bolstered by their recent conduct.

The two entities dedicated months pursuing a preliminary verdict from Judge Annalisa Torres on their accord, which would have slashed Ripple’s sanction from $125 million to $50 million and dissolved the enduring restriction on institutional XRP transactions.

After she rebuffed their mutual plea for this preliminary verdict, Ripple voiced its wish to advance, upholding the prior decision that $XRP does not qualify as a security. With both entities enthusiastic to press forward, August 15 could herald the termination of the legal contest.

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