The End of a Crypto Soap Opera
Key Highlights:
• SEC and Ripple drop all appeals, ending one of crypto’s most influential court cases
• Judge Torres’s 2023 mixed ruling now stands as final judgment
After half a decade of legal jousting, Ripple Labs and the U.S. Securities and Exchange Commission have decided to put down their gavels and walk away. In a joint filing to the Second Circuit Court of Appeals, both parties agreed to dismiss their appeals, each paying their own legal costs.
What began in 2020 as a question over whether XRP should be treated as a security morphed into one of crypto’s defining regulatory sagas. Along the way, it spawned countless think pieces, speculative trades, and at least one or two friendships permanently damaged in Twitter debates.
What the Final Ruling Means
With the appeals gone, Judge Analisa Torres’s July 2023 ruling remains the law of the land: institutional XRP sales? Securities. Retail secondary-market trades? Not securities. In other words, the SEC partially won, Ripple partially won, and the rest of us partially got more confused, but at least we now have clarity on half the problem.
Ripple CEO Brad Garlinghouse summed it up back in June: “We’re closing this chapter once and for all, and focusing on what’s most important, building the Internet of Value.” Translation: more partnerships, more adoption, and fewer lawyers on speed dial.
Market Cheers the Endgame
The market wasted no time celebrating. XRP jumped around 7% to $3.11, as traders breathed a collective sigh of relief. Analysts are already speculating on whether this momentum could push the token toward challenging its old all-time highs, though history suggests that XRP likes to make its investors wait, just to keep things interesting.
Why This Matters for Traders
The resolution removes one of the biggest legal overhangs in crypto and could encourage more institutional and cross-border payment adoption for Ripple. It also sets an informal precedent for how the SEC might approach similar cases.
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