After nearly four years of legal wrangling, the Securities and Exchange Commission (SEC) and Ripple Labs have jointly agreed to dismiss their appeals in the high-profile XRP case, bringing an end to one of the crypto industry’s most closely watched battles.
The decision, filed with the Second Circuit Court of Appeals, confirms that both parties will cover their own legal expenses, allowing the mixed ruling from 2023 to stand as the final word.
U.S. District Judge Analisa Torres delivered a split verdict last year, finding that XRP sales to institutional investors violated securities laws, while those made to retail traders through public exchanges did not.
Ripple was ordered to pay $125 million in penalties, significantly less than the $2 billion originally sought by the SEC, and to comply with a permanent injunction against further violations.
The SEC had pursued an appeal in 2024, aiming to overturn the retail sales exemption, while Ripple filed a cross-appeal to defend its position.
However, both sides agreed earlier this year to drop their cases, with Ripple’s CEO Brad Garlinghouse stating,
“We’re closing this chapter once and for all, and focusing on what’s most important — building the Internet of Value.”
The timing of this development reflects shifts in the regulatory landscape.
Since Donald Trump returned to the presidency, the SEC has moved away from aggressive crypto enforcement, dropping several ongoing investigations and lawsuits.
Attempts by Ripple to reduce the penalty were rejected by Judge Torres, yet the parties appear to have settled on ending the drawn-out process and moving forward.
Following the news, XRP’s price surged over 10% to around $3.32, marking a sharp rebound from lows seen earlier in the year.
The token has nearly doubled since April, rising from $1.79 to a peak of $3.56 in July, indicating renewed investor confidence.
With the legal cloud lifted, Ripple is expected to refocus on expanding its payment solutions and stablecoin offerings, as well as moving ahead with plans for a public listing.
From Coinlive’s perspective, this resolution is a pivotal moment not only for Ripple but for the wider crypto market.
The mixed ruling leaves unanswered questions about the classification of digital assets, especially those sold to institutional buyers.
It also highlights the challenges regulators face in applying existing securities laws to emerging technologies.
Ripple's ability to sustain its momentum and thrive will be tested as the market continues to grapple with regulatory uncertainty.
The firm’s ability to navigate this evolving landscape—and the broader industry’s response to regulatory clarity—could set important precedents for crypto’s future.
The SEC has delayed decisions on several crypto ETFs, including Bitcoin, Ethereum, Solana, XRP, Litecoin, and Dogecoin, pushing most deadlines into October. Regulators are working on new listing standards that could allow faster approvals of altcoin ETFs once rules are finalised.
WeatherlyVivopower International has partnered with Crypto.com to manage its growing digital asset portfolio, including a \$100 million XRP reserve. The collaboration will provide institutional-grade custody, trading access, and DeFi options, giving Vivopower exposure to Crypto.com’s 150 million users.
AnaisRipple is buying Canadian payments firm Rail for $200 million to grow its stablecoin business and speed up cross-border payments. The deal is set to close later this year, pending approval from regulators.
WeatherlyNancy Jones lost $17 million in XRP after her former partner, Kirk West, allegedly stole her crypto wallet and cash from her home. West was arrested and faces charges, but some of the stolen cryptocurrency is still missing.
WeatherlySBI Holdings and Aplus now let Japanese credit card users swap loyalty points for Bitcoin, Ethereum, or XRP. This is the first time crypto has been added as a reward option, though the exchange amount is small and capped.
WeatherlyIn a bold and symbolic gesture, Ripple CEO Brad Garlinghouse has etched a pivotal moment in crypto legal history onto his skin.
XingChiRipple has applied for a US national bank charter and a Federal Reserve account to support its stablecoin RLUSD. The move comes as new laws push stablecoin issuers to meet tougher rules, with Ripple aiming to boost trust and compete with USDC and USDT.
WeatherlyRipple’s Brad Garlinghouse is announcing that Ripple is finally putting their SEC case to an end once and for all, as the company prepares to withdraw its cross-appeal.
XingChiA 26-year-old TikTok influencer and crypto trader was reportedly kidnapped in France and held for a €50,000 crypto ransom. But when the kidnappers found he had been all-in on XRP since 2018 and had little to show for it, they released him—allegedly sending $1,000 in USDT before letting him go.
KikyoRipple Labs' legal battle with the SEC, highlighting the tension between cryptocurrency innovation and regulatory oversight, and its broader implications for the future of digital finance.
WeiliangLegal expert John Deaton suggests the SEC's challenge could be complex given the nuances of the Howey Test.
BeincryptoMere days after Coinbase went on the attack, Bittrex followed suit.
cryptopotatoAccording to Marc Fagel, an SEC veteran and former Director, a ruling in the case between the SEC and Ripple might be coming in days.
cryptopotatoCertain documents related to former SEC director William Hinman have been released in the SEC’s lawsuit against Ripple Labs.
TheBlockThe recent Wells notice from the SEC to Coinbase has sparked another reaction from Ripple.
BitcoinistIf the regulator is successful in this case, it might have very negative repercussions for XRP, its investors, and the cryptocurrency sector as a whole.
FinboldThe Securities and Exchange Commission (SEC) has been extensively criticized for its regulatory stance in the crypto sector.
FinboldRipple defense attorney James K. Filan has publicized a motion by the company and its accused executives, requesting summary judgment.
BeincryptoRipple Labs was able to gain a victory against the SEC in its ongoing securities fraud case. The judge on the case denied the SEC’s motion to review certain documents that may not be material to the prosecution.
Cointelegraph