Ripple’s CEO, Brad Garlinghouse, has announced today on X that the U.S. Securities and Exchange Commission (SEC) is dropping its appeal in a long-standing legal battle against Ripple. This is a significant victory for Ripple and the broader cryptocurrency industry. The announcement described the decision as a victory for not just Ripple but for the overall crypto industry signaling optimism for the future of XRP and digital assets.
Ripple’s Legal Battle Ends in Victory, $XRP Surges
The case, which dates back to December 2020, saw the SEC accuse Ripple of selling its cryptocurrency, XRP, as an unregistered security. The dispute procrastinated for more than four years before Ripple winning the case. The case affected the price of $XRP coin as well. However, after Ripple’s win, it received a huge pump and it is trading at $2.54 today. It is up 12% since the tweet of Ripple’s CEP.
Garlinghouse’s statement comes as the crypto community celebrates the resolution, with many viewing it as a pivotal moment for regulatory clarity in the U.S. cryptocurrency sector.
Ripple Adopts Bold Pro-Crypto Strategy
In a related development, Ripple has pledged $5 million in XRP to President Donald Trump’s inauguration fund, further aligning itself with the pro-crypto stance of the incoming administration. This move underscores Ripple’s strategic positioning as it navigates the evolving regulatory landscape and aims to build on this victory to drive innovation in blockchain technology.
The future now looks bright for Ripple and XRP, with Garlinghouse emphasizing, “Let’s build,” as the company moves forward with renewed momentum.
