Last week, a significant milestone was reached in the ongoing legal saga between Ripple and the U.S. Securities and Exchange Commission (SEC). Brad Garlinghouse, CEO of Ripple, announced that the SEC had dropped its appeal without conditions, signaling a potential conclusion to a prolonged dispute that dates back to late 2020.
Despite Garlinghouse’s declaration, there were lingering misconceptions regarding the case’s resolution. To clear up any uncertainties, Ripple’s Chief Legal Officer, Stuart Alderoty, stepped in to provide clarity on the situation.
The final crossing of t’s and dotting of i’s – and what should be my last update on SEC v Ripple ever…
Last week, the SEC agreed to drop its appeal without conditions. @Ripple has now agreed to drop its cross-appeal. The SEC will keep $50M of the $125M fine (already in an…
— Stuart Alderoty (@s_alderoty) March 25, 2025
Just a year ago, Ripple faced a hefty $125 million penalty regarding the ambiguous status of XRP. Initially, the SEC sought a staggering $2 billion in penalties, only to significantly reduce its demands by withdrawing the appeal last week.
In a notable development, Alderoty confirmed that Ripple has also decided to drop its cross-appeal. Consequently, the SEC will retain a mere $50 million of the original fine, while the remaining $75 million will be refunded to Ripple. This amount is already secured in an interest-bearing escrow account.
While this outcome is still subject to a vote by the Commission, Alderoty appears confident that this marks the end of the lawsuit, as indicated by his statement indicating that he would not provide further updates on this matter.
Interestingly, the market’s reaction to Garlinghouse’s announcement was less volatile than expected. Following the initial news last week, XRP experienced a rapid surge, climbing from $2.3 to $2.6 in a matter of minutes. However, in the days since, the asset has struggled to maintain upward momentum, lingering just below the critical $2.5 resistance level.
This development raises questions about the future trajectory of XRP and the broader implications for the cryptocurrency market, particularly regarding regulatory clarity. As stakeholders await the SEC’s vote, it is essential for investors and industry participants to stay informed about any further developments.
In conclusion, while the announcement from Ripple signifies a notable victory and a potential fresh start, the story surrounding XRP and its regulatory status is far from over. Vigilance and proactive engagement with regulatory changes will be vital as this landscape continues to evolve.
The post Is The Ripple vs. SEC Lawsuit Indeed Over After This Development? appeared first on CryptoPotato.
