Ripple-SEC Case Update: Judge Torres' Role Concludes as Parties Prepare to Drop Appeals

Former SEC attorney Marc Fagel has clarified that Judge Analisa Torres' involvement in the landmark Ripple vs SEC case has effectively concluded. In a series of social media posts, Fagel addressed widespread confusion within the XRP community regarding the litigation's procedural status following Ripple CEO Brad Garlinghouse's announcement of the company's intent to dismiss its appeal.

Fagel emphasized that Judge Torres' prior ruling against Ripple will automatically take effect once both parties formally withdraw their appeals, requiring no further judicial action. "The parties can drop their appeals, at which point her order against Ripple becomes binding. Judge Torres has no remaining role in this matter," Fagel stated on July 4, 2025.

The legal expert noted that despite public statements from Ripple executives, court records show no official appeal dismissal filings as of July 5. However, he anticipates both sides will soon complete this procedural step, triggering the enforcement of the district court's judgment.

Addressing speculation about a potential SEC meeting impact, Fagel dismissed suggestions that the agency's July 3 closed session would immediately affect the Ripple case. He characterized the meeting as routine SEC business, noting that regulatory decisions typically require weeks or months of deliberation. While acknowledging the possibility of an expedited process, Fagel cautioned that immediate resolution appears unlikely given standard SEC protocols.

Fagel's analysis provides critical clarity on the case's trajectory: Judge Torres' ruling stands pending formal appeal withdrawals, no imminent SEC action is expected, and while settlement remains probable, bureaucratic processes will likely extend the timeline. The commentary serves as a reality check for those anticipating swift case resolution, underscoring the deliberate pace of regulatory and judicial procedures even when outcomes seem predetermined.