Ripple Labs and the U.S. Securities and Exchange Commission (SEC) have reached an agreement to end their years-long legal battle by requesting the appeals court to dismiss their appeals.
End of Appeal
In a joint filing on Thursday, the Second Circuit Appeals Court recognized the dismissal of SEC's appeal and Ripple's cross-appeal. Each party will bear their own costs and fees. 'Following the Commission's vote today, the SEC and Ripple formally filed directly with the Second Circuit to dismiss their appeals,' wrote Ripple's Chief Legal Officer Stuart Alderoty.
Federal Court Ruling
With the abandonment of the appeals process, the decision made by New York federal judge Analisa Torres in 2023 is now final. The judge found that XRP sold by Ripple on public exchanges did not constitute a security, while tokens sold to institutional investors were deemed to have been sold as unregistered securities. The court also ordered Ripple to pay a $125 million fine, significantly lower than the SEC's $2 billion demand.
XRP Market and Its Impact
The push toward settlement has significantly contributed to XRP's price surge. From a low of $1.79 on April 9, 2025, the token's price has increased nearly 99% to reach $3.56 on July 22. Although XRP briefly fell below $3, it has since risen by 10.6% over the past day to $3.31.
The agreement between Ripple and SEC concludes years of litigation and may further influence the cryptocurrency market, particularly the XRP token.
