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  • ethereumEthereum (ETH) $ 2,365.53 1.12%
  • tetherTether (USDT) $ 1.00 0.2%
  • bnbBNB (BNB) $ 302.66 0.19%
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  • bitcoinBitcoin (BTC) $ 42,977.00 0.18%
    ethereumEthereum (ETH) $ 2,365.53 1.12%
    tetherTether (USDT) $ 1.00 0.2%
    bnbBNB (BNB) $ 302.66 0.19%
    solanaSolana (SOL) $ 95.44 1.28%
    xrpXRP (XRP) $ 0.501444 0.1%
    usd-coinUSDC (USDC) $ 0.996294 0.34%
    staked-etherLido Staked Ether (STETH) $ 2,367.26 1.4%
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image-alt-1BTC Dominance: 58.93%
image-alt-2 ETH Dominance: 12.89%
image-alt-3 BTC/ETH Ratio: 26.62%
image-alt-4 Total Market Cap 24h: $2.51T
image-alt-5Volume 24h: $144.96B
image-alt-6 ETH Gas Price: 5.1 Gwei
 

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SEC and Ripple drop appeals

SEC and Ripple drop appeals in landmark court case, leaving 2023 ruling intact as XRP price surges 7%

https://icn.live/wp-content/uploads/2025/08/SEC-and-Ripple-drop-appeals.mp3
  • by ICN.live
Amira Khalil

SEC and Ripple drop appeals in one of the most high-profile legal battles in crypto history.

The joint decision ends years of courtroom confrontation and leaves the July 2023 ruling by Judge Analisa Torres intact. This ruling held that XRP secondary-market sales were not securities, but institutional sales were.

The stipulation of dismissal, filed in the Second Circuit, states that both parties will bear their own legal costs. Ripple CEO Brad Garlinghouse had already signaled the company’s intent to end its cross-appeal, emphasizing a pivot toward innovation over litigation. “We’re closing this chapter once and for all,” he said, marking a turning point for Ripple’s strategy.

A landmark crypto legal fight ends

The SEC’s pursuit of Ripple began in 2020, alleging the sale of unregistered securities. Judge Torres’ 2023 decision split the case, ruling against Ripple for direct institutional sales while siding with the firm for “blind bid” retail transactions. With appeals now dropped, this decision becomes the unchallenged legal precedent.

For the crypto industry, this outcome provides a rare measure of clarity on how securities laws apply to digital assets in different transaction contexts. While institutional sales may face scrutiny, the retail secondary market sees a legal green light — for now.

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XRP price jumps on the news

The announcement had an immediate market impact. XRP’s price surged about 7%, moving from roughly $3.04 to $3.27. This rally reflects investor relief that a potentially prolonged and costly appeals process has been avoided. Traders see the decision as reducing regulatory uncertainty, which often weighs heavily on crypto valuations.

Legal analysts suggest that the case’s resolution could influence future SEC enforcement strategies, particularly in how it approaches secondary-market transactions for other tokens. The finality of Judge Torres’ decision might embolden other projects to push back against broad SEC interpretations.

Clarity for crypto markets

With the SEC and Ripple’s dispute resolved, the industry can now focus on product development, adoption, and broader regulatory engagement. While some legal gray areas remain, the Ripple case offers valuable guidance for token issuers, exchanges, and investors navigating U.S. securities law.

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What was the SEC vs Ripple case about?

The SEC alleged in 2020 that Ripple Labs sold unregistered securities through XRP, violating U.S. securities laws. The dispute centered on whether XRP should be classified as a security, impacting both institutional and retail sales. Judge Torres’ 2023 ruling found that institutional sales of XRP were unregistered securities but secondary-market transactions — such as trades on exchanges — did not meet the definition of securities transactions. This distinction was critical in shaping the final outcome of the case.

Why did the SEC and Ripple drop their appeals?

Both parties opted to end the costly and prolonged appeals process to bring closure. Ripple’s CEO emphasized moving forward to focus on developing products and advancing the “Internet of Value.” The SEC’s reasons were not detailed, but legal analysts believe the mixed ruling and the potential for limited gains from an appeal influenced the decision. The joint stipulation ensures each party covers its own legal costs, avoiding further expenses.

How did the market react to the news?

Following the announcement, XRP’s price surged about 7%, moving from around $3.04 to $3.27. Investors viewed the end of the case as reducing regulatory uncertainty, a factor that often depresses crypto asset prices. The ruling’s clarity on secondary-market transactions likely contributed to bullish sentiment. The market reaction suggests optimism that Ripple can focus on expansion and that similar cases may see more favorable outcomes for crypto projects.

What does this mean for the broader crypto industry?

The final ruling offers partial clarity on how securities law applies to digital asset transactions. It confirms that not all token sales automatically qualify as securities offerings, especially in secondary markets. This could influence future SEC enforcement strategies and encourage other projects to challenge broad interpretations of securities regulations. While the case does not settle all regulatory questions, it provides a valuable precedent that may shape the evolution of crypto law in the United States.

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