- Ripple Chief Executive Officer Brad Garlinghouse said the U.S. Securities and Exchange Commission (SEC) will drop its appeal in the case against the creator of XRP.
- XRP price jumped about 12% on the news, trading higher as the Ripple community celebrated.
Ripple CEO Brad Garlinghouse announced via X that the U.S. Securities and Exchange Commission (SEC) is prepared to withdraw its appeal in the long-running court dispute with the company. According to Garlinghouse, the SEC’s decision to drop the appeal represents a major victory for Ripple and the broader crypto ecosystem.
“This is it — the moment we’ve been waiting for. The SEC will drop the appeal — a resounding win for Ripple, for crypto, in every respect,” Garlinghouse posted on X.
He added,
“I can finally announce that the case is over; it is done.”
XRP, the cryptocurrency at the center of Ripple’s four-year legal battle, reacted sharply to the announcement. At the time of writing, XRP was trading near $2.52, up more than 12% over the past 24 hours. Most of that gain followed Garlinghouse’s public statement.
Ripple’s legal fight with the SEC appears to be over
Expectations that the SEC would withdraw its appeal and bring an end to the high-profile four-year case have grown in recent weeks. Market observers noted a trend of regulatory actions that concluded without continued prosecution, and several crypto-related matters have been resolved or dropped.
Earlier settlements and the winding down of investigations in cases involving other crypto firms, including Coinbase, Kraken and Gemini, fueled speculation that the SEC might also abandon its appeal against Ripple. Reports last week suggested regulators were reevaluating their approach, with Ripple’s legal team previously estimating potential fines near $125 million as one obstacle being negotiated.
On March 19, outside the Digital Asset Summit in New York, Garlinghouse publicly announced that the SEC would indeed cease pursuing the appeal. For the Ripple community, the apparent conclusion of the XRP saga was a defining moment.
“Just a few minutes ago, before I walked in here, I posted on X that we can now announce the SEC is no longer pursuing their appeal in the Ripple case,” Garlinghouse told attendees at the summit.
The SEC has not issued an official statement confirming the development at the time of publication, but the news has already sparked renewed optimism among Ripple supporters and traders who see a new chapter for Ripple and XRP unfolding.