Ripple Ends SEC Legal Battle: XRP Price Rises 3%
Ripple CEO Brad Garlinghouse announced the company is withdrawing its cross-appeal against the U.S. Securities and Exchange Commission (SEC), resulting in a 3% price increase for XRP. This development could mark the conclusion of a legal dispute that began in December 2020 when the SEC alleged Ripple Labs conducted an unregistered securities offering through XRP sales.
Key Developments in Ripple vs SEC Case
- Ripple voluntarily dismisses its cross-appeal, anticipating reciprocal action from the SEC
- XRP price rose 3.36% to $2.18 following the announcement
- Court rejects joint motion to reduce $125 million civil penalty against Ripple
Implications for XRP’s Future
Stuart Alderoty, Ripple‘s Chief Legal Officer, confirmed that XRP‘s classification as a non-security remains unaffected. The company is now redirecting its focus toward developing its ‘internet of Value’ vision.
Expert Perspective
‘This resolution may influence how U.S. regulators approach cryptocurrency oversight moving forward,’ noted a blockchain regulatory specialist.
How to Acquire XRP
For those interested in XRP, consider these steps:
- Select a reputable cryptocurrency exchange that lists XRP
- Complete necessary identity verification procedures
- Deposit funds and execute your trade
- Securely store your XRP in a private wallet
Conclusion
The resolution of this prolonged legal dispute represents a significant milestone for Ripple and the broader cryptocurrency sector. Market participants will be watching closely to see how this precedent affects regulatory approaches to digital assets.
