- Ripple vs SEC delay due to standard legal procedures, not intentional stalling.
- Marc Fagel confirms no action pending before Judge Torres in Ripple case.
- XRP price rises to $2.92 amid strong trading volume and legal clarity expectations.
The long-running legal dispute between Ripple and the U.S. Securities and Exchange Commission (SEC) has now entered its final procedural phase. This comes contrary to recent speculation that either party is stalling the case.
As XRP sees renewed momentum in the market, a former SEC official has now offered a clear explanation for what is happening behind the scenes.
Former SEC Director Explains the “Delay”
Marc Fagel, a former regional director at the SEC, has addressed the growing concerns within the crypto community about the status of the Ripple lawsuit. In a recent social media post, Fagel explained that the perceived delay is not due to any obstruction by either the SEC or the presiding judge, Analisa Torres. Instead, he clarified, both parties are simply following standard legal protocol.
Fagel stated that Ripple and the SEC have already agreed to drop parts of their respective appeals. However, these steps must now be formally documented and processed through legal channels, a task that he says typically takes one to two months.
“Nobody is holding up the case,” Fagel emphasized, adding that the judge currently has no further role as there is nothing left for her to decide. He further clarified that neither party has filed the official motion to dismiss their appeal yet.
Related: Why the Crypto Market Has Stopped Caring About the Ripple vs. SEC Case
Once that final step is completed, the case will proceed toward its official closure. Fagel noted that the outcome is now entirely in the hands of the involved parties and is progressing within a normal legal timeline.
XRP Trades Near $3 Amid Higher Volumes
While the legal formalities continue, XRP has experienced a price increase. According to CoinMarketCap data, the token rose by 4.78% over the past 24 hours to trade at $2.92 at the time of writing. XRP’s market capitalization climbed to $173.11 billion, with a 22.15% rise in trading volume pushing daily activity to $9.11 billion.
Related: After 5 Years Battling the SEC, Has XRP Come Full Circle?
The asset’s price rebounded from a low of $2.7951 and moved above $2.95 before consolidating. XRP now holds its position as the third-largest cryptocurrency by market cap.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
