On August 8, the XRP community was positively bouncing off the walls, buoyed by a monumental update in the epic saga of Ripple vs. the SEC. It was announced that both Ripple Labs and the U.S. Securities and Exchange Commission had filed a Joint Dismissal of Appeals, which, in layman’s terms, means the case was about as dead as a doornail. 🎉
After more than five years of legal wrangling that could make a soap opera look like a short story, many were eagerly anticipating a raucous celebration from Ripple’s leadership. But lo and behold, Ripple CEO Brad Garlinghouse decided to play the role of the silent monk, remaining as quiet as a church mouse for over 24 hours after the news broke. Perhaps he was busy contemplating the mysteries of the universe or just trying to find the perfect avocado toast recipe. 🥑
Confusion and Doubts Among XRP Holders
While some were popping champagne corks, others in the XRP community were scratching their heads, wondering if the case had truly reached its conclusion or if they had just been duped by a particularly elaborate prank. A few social media sleuths even labeled it “fake news,” pointing to the SEC website as if it were the holy grail of truth. Because, you know, nothing says “trustworthy” like a government website. 🙄
Others speculated that this could be a “diversion,” suggesting that both parties were playing a game of legal hide-and-seek, with no formal public statements in sight. This uncertainty only served to stoke the fires of confusion and FUD (fear, uncertainty, and doubt) among investors, who were probably just trying to figure out if they should hold or fold. 🤔
However, Ripple’s Chief Legal Officer, Stuart Alderoty, stepped in like a knight in shining armor, declaring, “Following the Commission’s vote today, the SEC and Ripple formally filed directly with the Second Circuit to dismiss their appeals. The end…and now back to business.” Sounds like a plot twist worthy of a Hollywood blockbuster! 🎬
Former SEC Lawyer Clears the Air
Enter former SEC attorney Marc Fagel, who decided to play the role of the voice of reason. “The joint stipulation of dismissal is public, so not sure what you think needs to be announced,” he quipped, as if he were addressing a room full of confused cats. 🐱
The joint stipulation of dismissal is public, so not sure what you think needs to be announced.
– Marc Fagel (@Marc_Fagel) August 10, 2025
Fagel went on to explain that Judge Analisa Torres, the overseer of this legal circus, doesn’t need to sign off on anything at this stage. Once the Court of Appeals finishes its administrative paperwork (which is probably more tedious than watching paint dry), her original ruling against the SEC will automatically take effect. Talk about a legal loophole! 🕳️
“No judges need to weigh in on anything at this point,” Fagel stated, emphasizing that the case is effectively over. So, if you were waiting for a dramatic courtroom scene, you might want to adjust your expectations. 🎭
What’s Next for Ripple and XRP?
With the appeals dismissed, Ripple is now free from the “Bad Actor” label, which could open up a treasure trove of opportunities for fundraising and business expansion. However, until an official statement comes directly from Ripple or the SEC, parts of the community may remain skeptical, like a cat eyeing a cucumber. 🥒
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2025-08-10 15:55