Ripple CEO Brad Garlinghouse has confirmed that the U.S. Securities and Exchange Commission (SEC) will withdraw its appeal in the landmark lawsuit against the company, marking the end of a four-year legal saga. The news ignited investor optimism, sending XRP prices soaring by 10% to a peak of $2.57.
Key Developments
SEC Withdraws Appeal: A Watershed Moment for Crypto
Brad Garlinghouse announced on X:
"This is it – the moment we’ve been waiting for. The SEC will drop its appeal – a resounding victory for Ripple, for crypto, every way you look at it."
- The decision follows a 2023 ruling by Judge Analisa Torres that partially favored Ripple, distinguishing between institutional and retail sales of XRP.
Background: The 4-Year Legal War
- 2020: SEC sued Ripple, alleging $1.3B in unregistered securities sales via XRP.
- 2023: Court ruled that while sales to institutions violated securities laws, exchange sales to retail did not.
- 2023 Penalty: Ripple fined $125M; SEC later appealed, now withdrawing.
Implications
Regulatory Shift Underway
- SEC has dropped multiple crypto-related cases since Gary Gensler’s departure.
- Political ties: Ripple donated $70M+ to crypto-friendly PACs and $5M to Trump’s inaugural fund.
XRP ETF Prospects Brighten
- Grayscale, Bitwise, and Franklin Templeton have filed for XRP ETFs.
- Analysts estimate 65–75% approval odds by late 2025.
FAQ Section
Q: Why did the SEC drop its appeal?
A: Likely due to shifting political priorities and the precedent set by the 2023 ruling.
Q: What’s next for XRP?
A: Market eyes potential ETF approvals and broader adoption post-lawsuit.
Q: How does this affect crypto regulation?
A: Signals a more pragmatic SEC approach under new leadership.
👉 Explore XRP’s latest price trends
Note: This article is for informational purposes only and does not constitute financial advice.
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