The four-year legal battle between Ripple and the SEC has concluded with a verdict in favor of the cryptocurrency company.
Conclusion of SEC Case
Ripple CEO Brad Garlinghouse announced that the SEC withdrew its appeal against Ripple, marking the court's side ruling as final.
Reaction to Case Closure
Following the announcement, XRP's value surged by 9% within the first hour, increasing its market capitalization to 146 billion dollars. The positive news triggered a general rally in the crypto market.
Background and Consequences
The dispute began in December 2020 when the SEC accused Ripple of conducting a $1.3 billion unregistered securities offering. In August 2024, a federal court had partially ruled in favor of Ripple, dismissing the SEC's claim that XRP inherently qualifies as a security.
The conclusion of the legal case marks a significant moment for Ripple and the cryptocurrency market, strengthening the company's and industry’s positions.
