The U.S. Securities and Exchange Commission (SEC) has dropped its appeal against Ripple, which might solidify XRP's status as a digital commodity. This decision could significantly affect Ripple's position in the ongoing legal battle.
Final Point for XRP
Crypto lawyer John Deaton stated that the SEC's decision to drop the appeal confirms that XRP tokens are considered digital commodities, not securities. However, Ripple still faces a $125 million judgment for improper sales of XRP.
Role of Ripple's Cross-Appeal
A significant point moving forward is Ripple’s cross-appeal filed in October 2024. This gives the company leverage in settlement negotiations. Yet, the issue remains with Judge Analisa Torres's injunction prohibiting Ripple from selling XRP to institutional investors.
Impact on the Industry
Deaton believes the initial case against Ripple was an attack on the entire crypto industry. He also stressed that Ripple, by not moving out of the US, shows its commitment to national interests.
The SEC's decision to drop the appeal may significantly impact XRP's status and strengthen Ripple in the crypto industry. Legal hurdles and cross-appeals remain pressing issues for the company.
