Ripple and SEC Withdraw Appeals, XRP Price Jumps 13%

Ripple Labs has settled its legal dispute with the US SEC after both parties agreed to withdraw their appeals, concluding a nearly five-year case.

Key Points

The decision was confirmed in a joint filing to the 2nd Circuit Court of Appeals on August 7.
Ripple's chief legal officer stated the company can now resume normal operations.
The SEC retracted its challenge against a ruling that XRP sales on public exchanges are not securities.
Ripple dropped its appeal related to institutional XRP sales violating securities laws.
Both parties will cover their own legal costs.
The resolution includes $125 million in penalties: $50 million to the US Treasury and $75 million returned to Ripple.
A permanent injunction remains in place, preventing Ripple from making institutional XRP sales without adhering to securities laws.
The litigation began in December 2020, when the SEC accused Ripple of raising $1.3 billion via unregistered securities offerings.
Political changes in Washington, particularly the return of former President Trump and new SEC leadership, influenced the outcome.
XRP experienced a 13% price increase following the news, with trading volume exceeding $9.5 billion, reflecting renewed investor confidence.