Pro-XRP lawyer Fred Rispoli has generated fresh buzz in the ongoing legal battle between Ripple and the US Securities and Exchange Commission (SEC) by pointing to April 16 as a critical juncture. According to Rispoli’s recent posts on X, Ripple faces an imminent deadline next Wednesday, April 16, by which it must either file its appellate brief or deliver a notice of settlement or withdrawal.
What’s Next In The XRP Lawsuit?
“On SEC v. Ripple, expect to see something happen on or before next Wednesday, 4/16, the due date for Ripple’s appellate brief. Ripple cannot get an extension and either has to file it (10%) or there will be a notice of settlement/withdrawal (90%),” he declared when a user inquired about the significance of the upcoming date.
Rispoli’s statement has also thrown a spotlight on the pending appointment of Paul Atkins as the next SEC chair. On X, a user asked whether Atkins “could have been sworn in by then,” prompting Rispoli to respond, “He should be, yes,” although he subsequently noted that formal procedures remain. “Technically, not yet,” Rispoli said. “He still needs Trump’s sign off and then must be sworn in. These are formalities to be sure but he’s not officially in until those two things happen.”
On Wednesday, the US Senate confirmed Atkins in a 52-44 vote, so the official paperwork now heads to the White House. Once President Donald Trump signs off, Atkins will be sworn in, but the timetable for these remaining steps is not entirely clear. Many believe that Atkins could play a pivotal role when the SEC proceeds with the Ripple case.
Following a user’s comment that both parties had already agreed to withdraw their respective appeals, Rispoli clarified, “They ‘agreed’ in the sense that Ripple executives made a public statement about it (obviously with non-public, written assurances from the SEC) but the SEC has not made any public statement, per its protocol. Nothing official has been done yet to effectuate the public announcement.”
This notion that the SEC might have provided private assurances drew skepticism from another crypto lawyer, James Farrell, who disputed the idea of “non-public, written assurances.” He explained that in practice, the Commission must vote to approve any settlement and that the staff cannot unilaterally bind the agency.
“What most likely happened was that Ripple and the staff agreed, subject to approval of the Commission (same as any other written offer of settlement by a defendant). Ripple front ran it without mentioning the condition,” Farrell asserted. He emphasized that until the Commission officially votes to accept or reject the offer, there is nothing to announce publicly, which aligns with the SEC’s long standing protocol.
Farrell further illustrated his point by referencing Coinbase, which publicly declared an agreement with the SEC’s staff on February 21, noting that the settlement was contingent on Commission approval. It was only after the Commission endorsed the arrangement that a formal statement emerged, roughly six days later.
According to Farrell, “In the unlikely event the Commission rejects Ripple’s offer of settlement, life goes on and the written settlement offer made by Ripple to the SEC remains non-public. In the event that the SEC does accept Ripple’s offer of settlement, then there is a public statement (that is the protocol).”
At press time, XRP traded at $1.99.
