Ripple Labs CEO Brad Garlinghouse Announces SEC Will Drop Its Lawsuit Against the Company

Ripple CEO Brad Garlinghouse has recently announced on X that the SEC will be dropping its lawsuit against the company, which has been ongoing for nearly four arduous years.

The U.S. Securities and Exchange Commission (SEC) will be dropping its lawsuit against Ripple, according to a recent announcement by Ripple CEO Brad Garlinghouse on X.

The SEC first accused Ripple of selling XRP as an unregistered security in December 2020, which is when the litigation began. Since then, XRP has faced a long period of legal battles as it seeks regulatory approval.

Now, major corporations and institutions are showing increasing favor towards this payment crypto platform, evident in Hashdex’s recent move to file for an XRP ETF.

This is it – the moment we've been waiting for. The SEC will drop its appeal – a resounding victory for Ripple, for crypto, every way you look at it. The future is bright. Let's build. pic.twitter.com/7WsD0C92Cm

— Brad Garlinghouse (@bgarlinghouse) March 19, 2025

Previously, the presiding judge in the lawsuit between the SEC and Ripple Labs ruled that the sale of XRP cannot be deemed an investment contract.

Specifically, the judge stated that while the sale of $XRP to third-party institutions through direct agreements or over-the-counter (OTC) transactions is considered a security, sales through order books on centralized exchanges are not.

This is seen as a significant win for the payment platform in the cryptocurrency market, and it also brings greater hope to the community for a regulatory framework that supports the development of cryptocurrencies.