Why has the appeal between Ripple and the SEC been dragging on? A comprehensive analysis of the latest developments.

Ripple's lawsuit with the SEC has once again become a hot topic in the global crypto world. Despite the SEC's recent swift actions in cases against other companies like Coinbase, it has yet to dismiss the appeal in the Ripple (XRP) case, raising questions in the market: what exactly is causing this four-and-a-half-year range-bound battle to remain unresolved? This article will comprehensively analyze the latest developments in the Ripple and SEC lawsuit, from legal procedures to internal voting mechanisms and shifts in regulatory policies.

Why is the SEC's rejection of the appeal taking so long?

Lawyer Bill Morgan recently publicly questioned why the SEC has not yet made a clear decision regarding the appeal in the Ripple case. He pointed out that while the SEC has acted decisively in other crypto cases, it has shown unusual delays in the XRP matter. Former SEC lawyer Marc Fagel added that both sides had attempted to reach a settlement, but the court refused to lift the injunction, resulting in having to restart the process for lifting it. If Ripple had chosen to accept the original ruling, the case would have been resolved long ago; however, due to a different strategy, everything now has to go through the tedious procedures of the U.S. Securities and Exchange Commission.

Does the SEC need to vote again? Procedural chaos sparks speculation

One of the biggest controversies at the moment is whether SEC commissioners must hold a second vote regarding the withdrawal of the appeal. Morgan revealed that some former SEC lawyers are also unable to confirm whether this is necessary. Fagel believes that the previous vote may not have fully covered the dismissal of the case, which has led to the current procedural delays. This uncertainty has made the internal review process of the SEC much slower, especially after the new chairman Paul Atkins took office, causing the decision-making pace of the entire organization to noticeably slow down.

Policy Shift: 'Encryption Plan' and the New Financial Blueprint for the United States

On August 4, SEC Chairman Atkins delivered a public speech, emphasizing that the "Project Crypto" will become the new North Star for U.S. securities regulation, assisting President Trump in promoting the U.S. as the world's capital of crypto assets. He promised that the SEC would actively reform securities rules and accelerate the on-chain transformation of financial markets, no longer allowing overseas innovation to take the lead. This policy shift is seen by outsiders as a key signal for the SEC's withdrawal of the Ripple appeal and has ignited market expectations for the lawsuit to come to an end soon.

Key time point approaching, XRP price is fluctuating dramatically

As the deadline for the appellate court application approaches on August 15, the SEC must submit a settlement progress report. Judge Torres previously rejected the motion for a declaratory judgment, meaning that without a settlement, withdrawing the appeal still requires a formal vote. The next SEC closed meeting will be held on August 7, which could become a crucial moment in determining the fate of the Ripple case.

Affected by news, XRP has seen a consecutive two-day surge, breaking through 3.07 USD. If it can stabilize above 3.1 USD, it is expected to challenge historical highs of 3.33 USD or even 3.66 USD; conversely, if it falls below 3 USD, short-term bears may dominate the market.

Conclusion

The reason why the Ripple and SEC lawsuit has yet to reach a conclusion is due to the complexity of legal procedures and the ambiguity of internal voting mechanisms, as well as the significant shift in U.S. regulatory policies. With the new SEC chair emphasizing support for crypto innovation, market expectations for the lawsuit's imminent conclusion are rising. The price of XRP is at a critical turning point, and the policy and voting trends in the coming week will directly determine the final outcome of this century-old lawsuit.