XRP News Today: Ripple Drops Cross-Appeal Against SEC, Ends Legal Battle Over XRP Classification

Ripple has officially dropped its cross-appeal against the SEC, marking a significant development in the long-standing legal battle over the classification of XRP. This move comes after a June 26 ruling by Judge Torres, which denied attempts to modify the injunction or reduce penalties against Ripple. By accepting the court’s judgment, Ripple acknowledges the restrictions on institutional XRP sales and the imposition of a $102.6 million penalty. This decision reduces legal uncertainty for XRP holders and market participants, reaffirming that XRP sales on exchanges are not classified as securities.

The court’s 2023 ruling distinguished between retail and institutional XRP sales, a nuance that has major implications for the crypto market. While retail XRP trading on exchanges remains legal and unaffected, institutional sales are still subject to securities regulations. This bifurcation provides clarity for retail investors but maintains regulatory oversight over larger, institutional transactions. Ripple’s CEO Brad Garlinghouse emphasized the company’s focus on innovation and building the “Internet of Value” following the legal resolution. The anticipated withdrawal of the SEC’s appeal will officially close this chapter, allowing Ripple and the broader crypto industry to move forward with greater regulatory certainty.

The Ripple versus SEC lawsuit has been a landmark case in the evolving landscape of cryptocurrency regulation. Since its inception in December 2020, the case has tested the boundaries of the Howey Test and challenged the SEC’s approach to classifying cryptocurrencies as securities. The final resolution of this case will likely influence future enforcement actions and regulatory frameworks. Industry experts note that the outcome sets a precedent for how digital assets are treated under U.S. securities laws, potentially shaping policy decisions and compliance strategies for other crypto projects.

The crypto market has responded positively to the news of Ripple dropping its cross-appeal, with XRP prices stabilizing after months of volatility. Market analysts suggest that the legal clarity will encourage renewed institutional interest, albeit within the constraints imposed by the ruling. Ripple’s strategic pivot towards expanding its network and partnerships indicates a focus on long-term growth rather than prolonged litigation. As the SEC prepares to withdraw its appeal, the industry anticipates a more defined regulatory environment that balances investor protection with innovation.

Ripple’s withdrawal of its cross-appeal against the SEC effectively ends one of the most significant legal battles in crypto history. The decision upholds the distinction between retail and institutional XRP sales, providing much-needed clarity for market participants. With the SEC expected to drop its appeal soon, the case’s conclusion will close a critical chapter in U.S. digital asset enforcement. This resolution allows Ripple to concentrate on its core mission of advancing blockchain technology and the Internet of Value, signaling a new phase of growth and regulatory compliance for the cryptocurrency sector.