Ripple Labs has concluded its lengthy legal battle with the U.S. Securities and Exchange Commission (SEC), a case that lasted over four years. The decision marks the end of uncertainty for the company and the broader cryptocurrency market.
XRP Community Predictions Proven Right
A few days before the final decision, Digital Assets Daily conducted a poll among the XRP community, where over 500 XRP holders shared their thoughts on the next steps for Ripple. Approximately 74% of respondents believed the company would settle the case. This prediction was validated when CEO Brad Garlinghouse announced that Ripple would not appeal, thanking the community for their support.
Court Rejects Ripple and SEC Settlement Request
On June 26, Judge Analisa Torres denied a joint request from Ripple and the SEC regarding the amendment of penalties. Both parties had agreed to reduce the penalty to $50 million and lift the ban on Ripple's institutional sales of XRP. However, the court upheld the original $125 million fine and injunction, stating no exceptional circumstances justified reversing the previous decision.
Ripple Plans to Move Forward
With the case behind them, Ripple stated its intent to focus entirely on business growth and innovation. Garlinghouse reiterated the company’s commitment to building the Internet of Value, aiming to make cross-border payments faster, cheaper, and more accessible using XRP and blockchain technology. The crypto community hopes that the approval of XRP Exchange Traded Fund (ETF) will now be expedited.
The conclusion of Ripple's legal battle paves the way for new opportunities in innovation and growth, potentially influencing the legitimacy of cryptocurrencies in the market.
