The U.S. Securities and Exchange Commission (SEC) has abandoned another high-profile cryptocurrency lawsuit.

This time, the agency dismissed its case against Cumberland, a major liquidity provider in the crypto market.

The U.S. Securities and Exchange Commission (SEC) has abandoned another high-profile cryptocurrency lawsuit. This time, the agency is dismissing its case against Cumberland, a major liquidity provider in the crypto market.

According to Coinpedia, the SEC and Cumberland reached a joint agreement to drop the case, pending final approval from SEC commissioners.

This move adds to a growing pattern. Over the past year, the SEC has backed down from lawsuits against Coinbase (COIN), Robinhood (HOOD), Uniswap (UNI-USD), and Gemini. Many in the crypto industry see this as a sign the agency is rethinking its enforcement strategy.

However, one major case remains untouched. The lawsuit against Ripple Labs (CRYPTO:RPL) is still ongoing, leaving many to wonder why the SEC refuses to back down in this particular battle.

Unlike the dropped cases, the SEC’s lawsuit against Ripple has dragged on since 2020. The agency claims Ripple’s sale of XRP violated securities laws.

In 2023, Ripple scored a partial victory when a judge ruled that XRP is not a security when sold to retail investors. However, the SEC quickly appealed the decision.

John Deaton, a lawyer representing XRP holders, noted that Ripple’s case carries higher stakes than the others.

“Ripple’s case stands apart because it directly challenges the SEC’s authority over digital assets. The stakes are higher, and both sides are deeply entrenched,” Deaton said.

According to him, the SEC’s persistence suggests that it sees Ripple’s case as a precedent-setting one—one it cannot afford to lose.

The SEC’s recent case withdrawals also come at a time of leadership change. Former Chair Gary Gensler, known for his tough stance on crypto, has stepped down.

Acting Chair Mark Uyeda has signaled a more open approach, suggesting a possible shift in how the agency handles crypto regulation.

According to Blockchain Magazine, journalist Eleanor Terrett stated, “While the SEC has dropped several cases, Ripple’s lawsuit might be one of the last to resolve. The agency could be waiting to see how other legal precedents unfold.”

This means that even as other companies see their cases disappear, Ripple’s legal battle could continue.

Investors are watching Friday’s White House Crypto Summit, where the U.S. government is expected to reveal details on a Crypto Strategic Reserve Asset.

According to Bob Mason of FX Empire, Trump’s crypto reserve plan could impact XRP’s demand. If XRP is included in the reserve, it could see increased institutional adoption.

However, if lawmakers push back against its inclusion, the regulatory uncertainty could continue.

According to Mason, if the SEC withdraws its appeal, XRP could rally. Some analysts believe it could push past its all-time high of $3.55.

However, if the SEC continues its fight, XRP’s price may struggle under ongoing legal uncertainty.

At the time of writing, XRP is trading at $2.4938.