As the U.S. Securities and Exchange Commission (SEC) officially appeals the Ripple case, the XRP community is now focused on a series of crucial dates that could shape the outcome of this long-standing legal battle.
After Judge Analisa Torres ruled last year that secondary XRP sales were not securities, many saw it as a win for Ripple, but controversy over institutional sales has kept the case in the spotlight. Now, the SEC's move to appeal brings new timelines that Ripple and XRP holders must keep in mind.
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Key dates in the appeal process include the SEC’s opening brief, which is likely due on Dec. 2, 2024. However, the SEC is expected to request a 30-day extension, pushing the deadline to early January 2025.
Ripple, in response, will file its cross-appeal, with its brief due around the same time. Opposition briefs will then follow, with deadlines in early February 2025, though Ripple may extend this until March.
2025 and beyond
By late March 2025, reply briefs will be filed, with oral arguments likely scheduled for September or October 2025. A final ruling from the Second Circuit Court is expected no earlier than January 2026, though experts suggest a more likely outcome in March or April of that year.
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Should the case progress beyond this point, it could take an additional 1.5 to 2 years to reach the U.S. Supreme Court, potentially extending the legal process into 2027 or beyond, as revealed by legal expert Fred Rispoli.
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