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Jun 28, 2025 upd. 30 Jun

Ripple Drops Cross-Appeal, Concludes Legal Battle with SEC

1 min

The legal dispute between Ripple and the U.S. Securities and Exchange Commission (SEC) is nearing resolution. Ripple Labs CEO Brad Garlinghouse announced that Ripple will drop its cross-appeal in the case, with the SEC expected to do the same.

  • XRP increased by 1.4% following the announcement.
  • A U.S. District Judge rejected a joint request from Ripple and the SEC for a settlement that would reduce Ripple's civil penalty to $50 million.
  • The judge cited concerns over eliminating a permanent injunction against Ripple, indicating a "reasonable probability" of continued violations of federal securities laws.
  • Ripple's decision to withdraw the cross-appeal accepts the original civil penalty of $125 million.
  • The SEC's lawsuit against Ripple began in 2020, alleging violations through XRP sales, with a ruling in 2023 determining mixed outcomes regarding retail and institutional sales.