Ripple Lawsuit Ends as SEC Drops Appeal After Four Years, XRP Soars 14%
Highlights:
- Ripple wins as SEC drops appeal, ending a four-year legal battle over XRP’s security classification.
- Ripple CEO says SEC lawsuit failed and harmed investors instead of protecting them.
- XRP price jumps over 14% after Ripple announces SEC has dismissed its long-running case.
Ripple CEO Brad Garlinghouse has confirmed that the SEC will no longer pursue its appeal in a lawsuit filed against Ripple. The lawsuit, filed in December 2020 by the U.S Securities and Exchange Commission, accused Ripple of raising $1.3 billion by selling XRP as an unregistered security. According to Garlinghouse’s X post, the lawsuit is an attempt by the SEC to exert regulatory control over the crypto market through enforcement actions that ultimately failed.
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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 future is bright. Let's build. pic.twitter.com/7WsD0C92Cm
— Brad Garlinghouse (@bgarlinghouse) March 19, 2025
The dispute saw a partial resolution when Judge Analisa Torres ruled that XRP was not a security in secondary market transactions, although institutional sales did violate securities laws. Ripple faced a $125 million fine and restrictions on its institutional sales beginning in 2024. Despite signaling an appeal earlier this year, the SEC has now reversed its decision, according to Garlinghouse. The SEC has yet to officially confirm this move.
Garlinghouse also slammed the SEC’s leadership under Chairman Gary Gensler, saying it hurt rather than helped investors as a regulator. He pointed out that the initial SEC lawsuit wiped out $15bn in XRP’s market value at the time.
Ripple Case Concludes After Years of Speculation
The legal team and Garlinghouse have argued that this case has created a legal precedent for the crypto industry. Garlinghouse remarked that the outcome strengthens efforts to establish clearer crypto regulations in the U.S. The move comes days after the SEC dropped similar cases against Coinbase and Robinhood.
The announcement from Ripple’s CEO comes after months of speculation. Former White House official Anthony Scaramucci suggested on a podcast in early March that the SEC might end the case. However, journalist Eleanor Terrett had refuted similar rumors weeks earlier, stating that no confirmation had been provided at the time.
Despite the pullback in XRP prices, there are speculations in the market that the SEC lawsuit may be coming to an end.
Anthony Scaramucci, founder of SkyBridge Capital, recently said that the SEC may have withdrawn its lawsuit against Ripple.
He mentioned this in an interview… pic.twitter.com/NkMGXz1mKw
— Denise🍒 (@Denise_chen0) March 10, 2025
Legal experts believe that the SEC’s decision may be influenced by political change. Ripple reportedly donated $5 million to Trump’s inauguration fund. Garlinghouse also met with President Trump in January. These events may have influenced the course of the case and its dismissal.
The SEC’s withdrawal cancels the pending appeals process, including Ripple’s deadline to file a reply brief in April. Garlinghouse confirmed the news through a video attached to his social media post and called it the end of a lengthy legal process.
XRP Market Reacts to SEC’s Dismissal
XRP has reacted positively after the announcement and is trading at $2.55, representing a 14.19% increase over the last 24 hours. The market cap stands at $148.72 billion, and the trading volume has increased by 77.76% to $6.32 billion.
The daily chart shows that XRP has surged above the $2.56 resistance level, after holding near the $2.27 support level in recent sessions. The Relative Strength Index (RSI) has also moved up, now sitting at 55.69, signaling growing bullish momentum. However, XRP remains below the $2.94 resistance level set earlier this year. The Ripple case has been holding the price for years, and an official announcement could trigger the rise to more than $7 in the short term.
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Austin Mwendia
Austin Mwendia is a passionate crypto journalist with three years of experience. He has contributed to various media outlets, covering blockchain technology, market analysis, and financial trends. He is committed to educating readers and expanding the adoption of blockchain and decentralized finance.
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