Ripple vs. SEC Case is 100% Over

After years of legal battle, Ripple Labs has finally dropped its cross-appeal against the SEC, marking the official end of the case.

The legal saga between crypto giant Ripple and the SEC has finally come to an end, with Ripple dropping its cross-appeal. The SEC will keep $50 million, while Ripple gets back $75 million from the $125 million fine.

The lawsuit, which began in December 2020, saw the SEC accuse Ripple of conducting an unregistered securities offering through XRP sales over seven years ago. The case has been closely watched by the crypto industry, as it could define how U.S. securities laws apply to digital assets.

Now, Chief Legal Officer Stuart Alderoty has confirmed on X that Ripple has agreed to drop its cross-appeal, which would have seen the SEC’s previous decision overturned and return the case to lower court for further proceedings.

In return, the SEC has requested the removal of the standard injunction on Ripple, which would usually be imposed on a defendant following a court order. The resolution is now pending final legal procedures and a commission vote before it is closed.

This settlement comes at a time when the SEC has been reassessing its approach to crypto regulation. The agency recently dropped lawsuits against major crypto exchanges Coinbase (NASDAQ:COIN) and Kraken, and is also planning to propose regulations for crypto exchange platforms.

The SEC’s actions have been subject to criticism from both industry stakeholders and members of Congress, who have urged the agency to provide clear and consistent regulations for the cryptocurrency sector.

As the lawsuit concludes, the focus shifts to the future of XRP and the possibility of an ETF.

According to Polymarket, there is an 86% chance that an XRP exchange-traded fund will be approved before 2025.

Amid the market turmoil, XRP remains stable, currently trading at $2.46, staying above the crucial support level of $2.40. Many analysts believe XRP could soon reach $2.9990 and even $3.4000, driven by market confidence and potential ETF approval.

With the lawsuit settled and the possibility of an ETF looming, it seems like the stage is set for XRP to take the spotlight in the crypto market.