Ripple has secured a decisive victory in its long-running legal battle with the US Securities and Exchange Commission (SEC).
On March 19, Ripple CEO Brad Garlinghouse confirmed that the regulator had dropped its appeal against the blockchain company, marking a significant win for Ripple and the broader crypto industry.
According to him:
“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.”
Garlinghouse further celebrated the moment by emphasizing that the case had proven Ripple operated within legal boundaries. He described the SEC’s decision as a turning point for the industry, reinforcing the legitimacy of digital assets.
Ripple’s Chief Legal Officer, Stuart Alderoty, echoed this sentiment. He noted that the ruling strengthens Ripple’s position and sets a legal precedent for the US crypto market.
Alderoty added:
“With the SEC dropping its appeal, Ripple is now in the driver’s seat and we’ll evaluate how best to pursue our cross appeal. Regardless, today is a day to celebrate this victory.”
According to CryptoSlate data, XRP surged by over 10% to $2.47 following the announcement. The token has already gained over 200% during the past months, cementing its position as one of the best-performing digital assets.
SEC vs. Ripple
Ripple’s long-standing legal dispute with the SEC began in December 2020 when the regulator accused the company of raising $1.3 billion through unregistered XRP sales.
After years of litigation, a pivotal ruling in August 2024 determined that XRP is not a security when traded on public exchanges.
However, the court upheld penalties for institutional sales, ordering Ripple to pay $125 million—far less than the nearly $2 billion initially sought by the SEC. Still, the SEC appealed this decision.
However, the regulatory environment shifted significantly following Donald Trump’s electoral victory in 2024, leading to a more pro-crypto approach following Gary Gensler’s exit from the financial watchdog.
Under the new leadership of Acting Chair Mark Uyeda, the SEC has taken a less aggressive stance on digital assets, dismissing lawsuits against major crypto firms, including Coinbase, Gemini, and Kraken.
Reports have since suggested that the new SEC leadership could classify XRP as a commodity, redefining how digital assets are regulated in the US.
The post XRP surges 10% as Ripple claims decisive win over SEC regulations appeared first on CryptoSlate.
