There’s been a lot of chatter online lately about the status of the long-running legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC). While some legal experts following the case closely believe it might take a few more months before a final verdict is reached, misleading claims and rumours continue to spread on social media.
Recently, a user named Altcoin Bale posted on X, claiming that the case was already closed, banks were quietly buying XRP, and retail investors would soon be priced out. But this statement didn’t sit well with pro-XRP attorney Bill Morgan, who has been actively tracking the lawsuit.
Bill quickly responded, saying, “FFS the case is not closed, or did you miss the news last week about an unsuccessful motion for an indicative ruling and an Appeal and Cross-appeal in abeyance but not over.”
Another user replied to Bill, saying that the case had hit a procedural snag because both Ripple and the SEC submitted a dismissal request using the wrong form. According to them, this technical error led the judge to reject it.
However, former SEC lawyer Marc Fagel stepped in, clarifying that the situation was far more serious than just a simple paperwork issue. “That is not an accurate description at all. It’s a far bigger issue than that,” he commented.
Bill Morgan, expressing his frustration, remarked, “The XRP community don’t want to listen. They want to hear ‘case closed, XRP to the moon.’”
For the unversed, here’s what actually happened: Judge Analisa Torres denied both parties’ motions for an indicative ruling. In simple terms, the judge stated that if the court’s jurisdiction were restored, she would deny the motion as it was filed under the wrong procedural rule. This means Ripple and the SEC will likely have to refile the motion correctly, and possibly plead their case once again.
While XRP supporters are eagerly awaiting good news, it’s clear from the legal experts’ comments that the lawsuit is still ongoing — and there are a few more legal hurdles to clear before any final outcome.
No, the Ripple vs. SEC lawsuit is not closed. Legal experts confirm it’s still ongoing with further procedural steps.
Judge Torres denied motions for an indicative ruling, citing incorrect procedural filing by both Ripple and the SEC.
Claims of banks quietly buying XRP are unconfirmed and disputed by legal experts following the ongoing lawsuit.
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