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- SEC hasn’t withdrawn Ripple’s appeal yet, but August 15 only marks a procedural update deadline.
- XRP investors stay cautious as court developments and legal delays blur near-term clarity and direction.
Legal uncertainty looms as the Securities and Exchange Commission has yet to withdraw its appeal in the ongoing case against Ripple Labs, even as the August 15 deadline approaches.
While XRP holders had been anticipating a possible settlement announcement, legal expert Bill Morgan has warned XRP investors not to expect a final decision on that date.
Morgan clarified that the SEC is not obliged to withdraw the appeal on August 15. That day instead serves as a deadline for filing a joint status update with the appeals court, which could include a range of actions such as asking for more time or giving procedural updates.
Despite the absence of a strict requirement to withdraw the appeal, the date still matters. The court expects a formal action, and this has given rise to speculation about possible moves from both sides. Morgan also said that developments within the next two weeks could provide a clearer picture of where the case is heading.
Judge’s Refusal Halts Ripple-SEC Agreement
The SEC and Ripple had already consented to the amended terms following the August 2024 ruling of Judge Analisa Torres. This consisted of lifting an injunction that prevented Ripple from future institutional sales and cutting the intended fine from $125 million to $50 million.
Leaving time for a possible settlement, both parties had jointly requested a 60-day pause in the appeals process. The freeze concluded in June. They have since requested further pauses, also set to expire in August.
However, the effort to overturn the last ruling proved futile. The motion was rejected by the judge, alleging that only an extraordinary circumstance or an appellate court’s ruling could overturn her ruling. Both parties failed to meet that bar, so the first ruling prevailed.
XRP’s Future Hinges on Regulatory Outcomes
At the moment, the value of XRP is $3.12, decreasing 1.89% within the last 24 hours. The 24-hour trading volume also fell 20%, down to $5.73 billion, indicating rising uncertainty as the approaching next legal deadline nears.
Analyst Armando Pantoja has drawn attention for his bold forecast, projecting a potential 33,233% increase in XRP’s value if the token gains regulatory clarity. He sees XRP following a growth pattern similar to Bitcoin’s early years and says that such legal hiccups are only temporary setbacks.
Pantoja also believes that XRP could hit $36.42 if its market capitalization matches Bitcoin’s. He further states that regulatory approval of stablecoins and crypto ETFs could propel demand higher.
Short-term technical analyses reveal resistance around $3.60 to $3.90, with potential targets up to $6.90 based on general market sentiment. Long-term outlooks place XRP in the range of $10 to $15 in 2030, if regulatory and macroeconomic environments improve.
