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- Anjali Belgaumkar
Anjali Belgaumkar
Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.
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Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
- Aug 04, 2025 04:21 UTC
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XRP Lawsuit: Ex-SEC Official Says Ripple Has Not Dropped It’s Cross Appeal Yet
Neither Ripple nor the SEC has yet withdrawn their appeals; the SEC must first vote internally to dismiss its appeal before Ripple can drop its cross-appeal, with both filings expected around August 15.
The $125 million penalty has already been paid in cash and is held in escrow; once the appeals are officially withdrawn, the funds will be transferred to the U.S. Treasury—no XRP payments possible without a court order.
The XRP community is on high alert as the Ripple vs U.S. Securities and Exchange Commission (SEC) legal battle moves toward what could be a decisive step on August 15. The date could mark the official end of the lawsuit that has loomed over XRP since 2020. However, despite excitement, there’s still confusion about the next steps and whether either side has dropped their respective appeals.
In the days leading up to August 15, one Ripple supporter publicly asked CEO Brad Garlinghouse about the company’s legal approach. Specifically, the user questioned when Ripple dropped its countersuit against the SEC and why Paul Atkins hasn’t moved to fully dismiss the case yet.
A Former SEC Lawyer Responds
Marc Fagel, a former SEC lawyer, responded to the conversation by explaining that neither Ripple nor the SEC has yet dropped their appeals. According to him, the process involves the SEC voting internally to dismiss its appeal first.
After that, both sides will file the required documents in court to officially withdraw their appeals. These filings will be publicly visible on the court docket once submitted.
Status of the $125 Million Penalty
Fagel also addressed the issue of the $125 million penalty Ripple agreed to pay. The amount has already been paid in cash and is being held in escrow. Once the dismissal process is complete, the funds are expected to be transferred to the U.S. Treasury.
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When someone asked whether XRP tokens could be used to pay the penalty instead of cash, Fagel clarified that it was not possible. He said that changing the payment method would require a court order, and neither party is likely to pursue such a request at this stage.
What to Expect Next
Once the SEC officially moves to drop its appeal, Ripple is expected to do the same. After that, both parties will file paperwork to close the case. While the SEC is not required to make a public statement, the court filings will confirm the final outcome.
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FAQs
It could officially end after August 15 once both sides drop their appeals in court.
Ripple has paid $125M in cash, held in escrow, to be sent to the U.S. Treasury.
Ripple will drop its appeal, and both will file papers to officially close the case.
Yes 
No 
