Ripple has officially withdrawn its cross-appeal with the SEC in the XRP lawsuit, marking a decisive end to one of crypto’s longest-running legal disputes.
CEO Brad Garlinghouse announced the move on June 27, 2025, stating the company will not challenge the court’s 2023 finding that XRP sales to institutional investors constituted securities transactions.
Key Developments in the XRP Lawsuit
The Ripple v. SEC case has been a landmark event for cryptocurrency regulation. Here’s a timeline of critical events:
- December 2020: SEC files lawsuit against Ripple.
- 2023: Court rules XRP sales to institutional investors are securities transactions, while retail sales on exchanges are not.
- June 26, 2025: Judge Torres denies modification of injunction, blocking negotiated settlement.
- June 27, 2025: Ripple withdraws cross-appeal, effectively ending litigation.
What This Means for XRP and Crypto Markets
- Regulatory Clarity: The 2023 ruling that XRP is not a security in retail trading remains intact.
- Institutional Restrictions: Ripple accepts limitations on institutional XRP sales.
- Financial Impact: Ripple likely faces a $102.6 million penalty.
👉 Explore how this decision impacts crypto regulations
FAQs About the Ripple-SEC Settlement
Q: Is the XRP lawsuit completely over?
A: Yes, with Ripple’s dropped appeal and the SEC expected to withdraw its appeal, no further court dates are anticipated.
Q: Does this affect retail XRP trading?
A: No. The 2023 ruling that exchange-based XRP sales aren’t securities still protects retail traders.
Q: What’s next for Ripple?
A: The company will focus on building its "Internet of Value" infrastructure, per CEO Brad Garlinghouse.
Conclusion: A Watershed Moment for Crypto Regulation
This case sets crucial precedents for:
- How securities laws apply to digital assets
- The distinction between institutional and retail crypto transactions
- The SEC’s enforcement approach
The nearly 4-year legal battle underscores the need for clear regulatory frameworks as blockchain technology evolves.