Ripple’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.
In the X post, Garlinghouse wrote
"Riple is dropping our cross-appeal,and the SEC is expected to drop their appeal as they 've previously said."
Garlinghouse added that the company is closing this chapter once and for all and focusing on building the internet of value.
Following this announcement, XRP, the cryptocurrency associated with Ripple Labs spiked 2.36% to $2.18 just five hours after the post, according to CoinMarketCap data.
The SEC’s lawsuit, filed in December 2020, accused Ripple of conducting an unregistered securities offering by selling $1.3 billion worth of XRP.
After years of litigation, a 2023 court ruling found that while XRP sales to institutional investors violated securities laws, transactions on public exchanges did not.
Both Ripple and the SEC had filed appeals, but recent negotiations aimed at reducing Ripple’s $125 million penalty and dissolving a permanent injunction were denied by Judge Analisa Torres.
With the cross-appeal now dropped, Ripple is signaling its intent to accept the court’s original terms and move beyond the dispute.
Garlinghouse’s announcement marks a strategic pivot for Ripple, as the company seeks to leave behind regulatory distractions and double down on its mission to enable seamless, blockchain-powered value transfer.
The resolution of this landmark case is expected to have significant implications for the future of digital asset regulation in the United States and could set a precedent for other projects facing similar scrutiny.
Ripple’s decision to withdraw its cross-appeal against the SEC marks a defining moment for the company and the XRP ecosystem.
As legal uncertainties fade, Ripple is poised to accelerate its growth and innovation in the global payments landscape, while XRP investors and the broader crypto market watch closely for the next chapter in this evolving story.
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