U.S. District Court Judge Torres in New York has formally signed an order dismissing charges brought by the SEC against leading Ripple figures Brad Garlinghouse and Christian Larsen. This signature confirms the cessation of allegations related to Ripple's XRP sales practices.

Despite the celebratory mood, there were voices of caution among the industry's leading lawyers. By voluntarily dismissing the case against Ripple's top executives, the SEC may be attempting to speed up the appeals process, bypassing the lengthy trial scheduled for late spring.

Can the SEC win? Attorney Jeremy Hogan's analysis shows the SEC will have to navigate a complex legal path to win, including potential appeals and further litigation. The process could drag on so much that Ripple could even appeal to the Supreme Court if the SEC manages to successfully complete the previous stages.