The Legal Battle Between Ripple and SEC Concludes

The SEC has announced it will drop its appeal over the ruling that XRP is not a security, marking a significant victory for Ripple.

The week has started on a bullish note for one of the top cryptocurrencies, with Ripple’s CEO, Brad Garlinghouse, announcing the SEC’s decision on X. The legal battle lasted over four years and cost nearly $200 million. Notably, Ripple also made a $5 million donation to pro-crypto President Donald Trump.

In a statement, Ripple’s Chief Legal Officer, Stuart Alderoty, said:
> “Today, Ripple moves forward—stronger than ever. This landmark case set a precedent for the domestic crypto industry. With the SEC dropping its appeal, Ripple is now in the driver’s seat and we’ll evaluate how best to pursue our cross appeal. Regardless, today is a day to celebrate this victory.”

Ripple and XRP Win Against SEC

In the case against Ripple, the SEC received a partial win with the court declaring the institutional sale of XRP a breach of securities laws. However, Ripple emerged with a greater victory as the court ruled that XRP is not a security and its retail sale doesn’t breach securities laws. The SEC planned to appeal the ruling, but their latest announcement confirms they will not pursue it further. With this, doubts about XRP being a security have been put to rest.

While the SEC has yet to make an official dismissal announcement, Garlinghouse stated in a video:
> “I am finally able to announce that this case has ended. It’s over. Sitting here today, and reflecting on four years ago, it seems very clear to me that this case was doomed from the start (…) I truly felt like we were on the right side of the law and history.”

XRP’s Positive Response to the SEC Update

The news has sparked a bullish trend for XRP, which was trading at $2.50 at press time, up over 8% since Garlinghouse’s announcement. The coin has seen over a 13% increase in both the 24-hour and 7-day charts. XRP’s market cap is approximately $146.92 billion, with a 24-hour trading volume of $5.56 billion.