XRP News Today: Ripple Drops SEC Appeal XRP Surges 3.87%

Ripple has officially dropped its cross appeal in the long-running legal battle with the U.S. Securities and Exchange Commission (SEC). The company's Chief Legal Officer, Stuart Alderoty, confirmed the decision, emphasizing that XRP is not a security and that this fact remains unchanged. Alderoty stated that the court presented Ripple with two options: continue the legal fight or step away. The firm chose to step away, and it is anticipated that the SEC will do the same, potentially bringing an end to one of the biggest legal battles in crypto history.

Ripple CEO Brad Garlinghouse posted a strong message on X (previously Twitter), stating, “We’re closing this chapter once and for all.” He added that the organization is now focused on building the “Internet of Value,” a global financial system backed by blockchain. This move signals that Ripple is ready to grow without distractions and shows confidence that the worst is now behind them.

With the legal fight nearly over, XRP could finally have room to rise. Several significant developments could follow: a spot XRP ETF is more likely now, with big firms like BlackRock potentially getting involved. Ripple might finally launch its IPO, which was on hold because of the lawsuit. Additionally, banks are now free to work with Ripple and this cryptocurrency, as the SEC is out of the way. All of this makes XRP one of the most talked-about tokens right now.

Previously, Ripple and the SEC had an early attempt to settle the case by requesting the court to lower the repeated fine on the organization and to remove the ban on selling XRP on an institutional scale. However, the judge rejected this appeal, causing disappointment and a decline in the price of the cryptocurrency. The recent action by Ripple to drop the appeal changes the situation, indicating that the company is interested in growth rather than prolonged courtroom action.

The community is excited to see how XRP will move forward following this decision. The cryptocurrency is currently trading at $2.18 and has surged by 3.87% within the last 24 hours after the announcement. With the legal battle behind it, Ripple is now free to build, grow, and expand. The native cryptocurrency is no longer stuck under legal pressure, and the way ahead is clear. Investors and the community believe this could be the moment XRP was waiting for—a fresh start and a chance to soar.

This news arrives amidst a major shift in the crypto industry, with banks now embracing digital assets. The European Central Bank is exploring cross-border payment options for a $320 trillion industry. Everything points towards a grand revival for the industry, and Ripple is at the center of it. The organization's decision to drop the appeal and focus on growth signals a new chapter for both Ripple and the broader crypto market.