Ripple has officially withdrawn its cross-appeal with the SEC in the XRP lawsuit, marking a decisive end to one of crypto’s longest-running legal disputes.
CEO Brad Garlinghouse announced the move on June 27, stating the company will not challenge the court’s 2023 finding that XRP sales to institutional investors constituted securities transactions.
Is the XRP Lawsuit Finally Over?
The Ripple v SEC case has been a huge event for crypto regulation, but the spectacle didn’t end after the case was dropped.
Both parties have spent the last few months trying to resolve one lingering issue: a cross-appeal regarding non-institutional securities sales.
Today, Ripple CEO Brad Garlinghouse announced that the company is finally giving up.
This decision follows Judge Torres’ June 26 ruling, which denied the parties’ attempt to modify the injunction and reduce Ripple’s penalty. That rejection blocked the path to a negotiated resolution.
By dropping the appeal, Ripple accepts the court’s existing judgment. This includes the restriction on institutional XRP sales and the likely imposition of a $102.6 million penalty.
No further court dates are expected, and the case will conclude once the SEC formally withdraws its own appeal. That step is anticipated in the coming weeks.
The 2023 ruling, which found XRP sales on exchanges are not securities, remains intact. That provides continued clarity for retail XRP trading.
The case, which began in December 2020, has become a key precedent in crypto regulation. Its conclusion closes a chapter in US digital asset enforcement.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
