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The SEC and Ripple have agreed to drop their appeals.
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This ends one of the most high-profile crypto lawsuits.
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The 2023 court ruling on XRP remains in place.
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XRP’s price jumped 7% after the news.
A Final End to the Case
The years-long legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs is officially over. Both sides have agreed to dismiss their appeals in the Second Circuit Court, according to a joint filing. Each will cover its own legal costs.
Ripple CEO Brad Garlinghouse had already signaled in June that his company was ready to close this chapter and focus on building the “Internet of Value.”
What the Ruling Says
By dropping the appeals, the mixed July 2023 ruling from Judge Analisa Torres now stands as the final decision. The ruling found that Ripple’s institutional sales of XRP violated securities laws but that secondary market sales to retail investors did not.
Market Reaction
Following the announcement, XRP’s price rose about 7%. The decision removes legal uncertainty for Ripple and could encourage more adoption of XRP in payments and remittance services.
