Ripple (XRP-USD) has finally put its four-year legal battle with the U.S. Securities and Exchange Commission (SEC) behind it. CEO Brad Garlinghouse confirmed the news at the Digital Asset Summit in New York, announcing, “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 market reacted instantly. XRP skyrocketed 10% on the news. The SEC’s lawsuit, which accused Ripple of conducting a $1.3 billion unregistered securities offering, began in December 2020. Now, with the regulator deciding not to appeal, Ripple can move forward without the looming threat of enforcement action. “I’m finally able to announce that the case has ended; it’s over,” Garlinghouse stated in a video posted on X.
Garlinghouse Thanks Supporters as Ripple Looks Ahead
Garlinghouse made it clear that this victory is about more than just Ripple. He praised the company’s employees, legal team, and the broader XRP community. “It’s gratitude to everyone who stood by us,” he said. This fight wasn’t easy, and those who stuck with Ripple through the storm proved their resilience.
Ripple Can Finally Close This Chapter
With the case now closed, Garlinghouse turned his attention to the future, calling for the U.S. to take a leadership role in crypto. “We’re now closing a chapter in crypto history,” he said. “It’s time to make the United States the crypto capital of the world.”
He also credited the SEC’s new leadership and other government officials for seeking “a rational and constructive way forward on crypto.” This signals a potential shift in how regulators approach digital assets moving forward.
For Ripple, the SEC’s decision to drop its appeal clears a major hurdle. Now, the company can focus on expanding its business without legal uncertainty weighing it down. At the time of writing, XRP is sitting at $2.52.
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