Ripple CEO Brad Garlinghouse confirmed that the company’s four-year legal battle with the SEC has officially ended. The announcement sent XRP surging over 8% before settling back.
The SEC’s decision to drop its appeal signals a broader shift, as the agency has also dismissed cases against Coinbase and Kraken. The lawsuit, filed in 2020, accused Ripple of selling XRP as an unregistered security.
In 2023, a court ruled that Ripple’s programmatic XRP sales did not violate securities laws, though direct sales to institutions did. Ripple was fined $125 million.
Since former SEC chair Gary Gensler’s departure, the agency has taken a more crypto-friendly stance under President Donald Trump’s second term, re-evaluating regulations and launching a crypto task force.
Following the news, XRP surged over 8%, briefly trading above $2.50 before pulling back. Garlinghouse criticized the lawsuit, calling it “doomed from the start” and labeling it the first major attack in the “war on crypto.”
With the Ripple case closed, the U.S. may be moving toward a more favorable regulatory environment for digital assets.
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