The SEC Abandons Its Lawsuit Against Ripple After Five Years of Legal Battle, Marking a Decisive Victory for the Company, XRP, and the Crypto Industry
This dispute, which began in 2020 and resulted in $15 billion in losses for XRP holders, was a major issue for crypto regulation.
The announcement immediately caused the price of XRP to jump by 12%, boosting market optimism and paving the way for a new phase for Ripple.
A Resounding Victory for Ripple and the Crypto Industry
The CEO of Ripple, Brad Garlinghouse, announced that the United States Securities and Exchange Commission (SEC) was dropping its appeal against the company. This decision marks the end of a long legal battle and is a triumph for Ripple and the entire crypto sector.
This is the moment we’ve been waiting for. The SEC is dropping its appeal. A resounding victory for Ripple, for crypto, from every angle.
A $15 Billion Legal Battle
The dispute between Ripple and the SEC began in 2020 when the agency filed a lawsuit against the company, accusing it of selling unregistered securities in the form of XRP tokens. This legal showdown, described by Garlinghouse as the ‘first major salvo in the war against crypto,’ caused extreme volatility in the market and resulted in estimated losses of $15 billion for XRP holders.
XRP Soars With the Announcement
The announcement of the appeal withdrawal immediately triggered a 12% increase in the price of XRP, confirming the significance of this news for investors and the crypto ecosystem at large. This surge demonstrates market optimism regarding Ripple’s regulatory future and the entire sector.
Towards a New Era for Ripple?
With this victory, Ripple can now fully focus on its expansion and innovations without the threat of prolonged legal battles. More broadly, this favorable outcome could influence other ongoing regulatory battles and strengthen the position of crypto companies against US regulators.
The SEC’s decision to abandon its lawsuit is more than just a relief for Ripple: it sends a strong signal to the industry, perhaps marking a turning point in the regulation of digital assets in the United States.
