After years of legal battles, the SEC has officially dropped its appeal against Ripple. This decision marks the end of a longstanding uncertainty for Ripple.
The Ripple and SEC Conflict
Ripple faced accusations from the SEC regarding the illegal sale of XRP tokens. The judge ruled in favor of Ripple multiple times, but the SEC continued its appeal even after the resignation of former chairman Gary Gensler.
Market Reaction and SEC's Role
While the SEC has not yet made an official statement on the Ripple case, news of the appeal dismissal caused XRP's value to rise. The SEC is currently focused on addressing procedural requirements to lift Judge Torres' standard injunction.
Ripple's Future and Case Conclusion
Attorney Fred Rispoli stated that paperwork for lifting the injunction is being prepared, and a SEC Commission vote is expected soon. Once approved, Ripple will likely not oppose lifting the injunction, and Judge Torres will likely sign off. This means the case could fully close within 60 days.
The crypto community remains on edge, awaiting the formal resolution of Ripple’s case with the SEC, potentially ending a years-long legal battle.
