Ex-SEC Lawyer: Judge Torres Out of Ripple-SEC Case
Former SEC lawyer Marc Fagel has clarified that Judge Analisa Torres has no further role in the Ripple-SEC case, countering speculation by crypto analyst Steph Is Crypto that a final district court sign-off could drive XRP to $5. On August 15, the SEC and Ripple filed a Joint Stipulation of Dismissal of their cross-appeals with the U.S. Court of Appeals for the Second Circuit, advancing the Ripple-SEC case solely to the appellate level. Legal expert Bill Morgan noted the procedural nature of this filing. Community members have called for action against accounts spreading repeated misinformation. With Judge Torres’s district involvement concluded and the appeals process under way, traders should adjust their strategies and focus on formal dismissal timelines rather than anticipating new rulings from the district court.
Neutral
This clarification on Judge Torres’s role is primarily procedural and does not introduce new legal risk or advantage for XRP, making the immediate market impact neutral. By dispelling rumors of a pending district court ruling, the update may reduce speculative volatility, aligning with past cases where procedural confirmations stabilized trading activity. In the short term, traders are likely to shift focus from anticipated court decisions to the formal timeline of appeal dismissals. Over the long term, the outcome at the U.S. Court of Appeals will remain the key market driver, but removal of district-level uncertainty supports a more measured trading environment rather than triggering bullish or bearish extremes.