XRP News Today: Ripple Ends Cross-Appeal in SEC Case to Focus on Internet of Value

Ripple, a prominent player in the blockchain and cryptocurrency space, has made a significant move in its long-standing legal dispute with the U.S. Securities and Exchange Commission (SEC). The company's Chief Executive Officer, Brad Garlinghouse, announced that Ripple is officially ending its cross-appeal in the case. This decision comes after careful consideration and strategic planning, as Ripple aims to focus on its core mission of building the Internet of Value.

The legal context surrounding this decision is multifaceted. Ripple's Chief Legal Officer, Stuart Alderoty, clarified that the court had presented the company with two clear options: either dismiss its appeal, which challenged the court’s earlier finding on historical institutional sales, or proceed with the appeal process. Ripple chose the former, opting to move forward operationally while reinforcing that the legal status of XRP remains unaffected. Alderoty emphasized that XRP’s classification as not being a security in secondary market sales remains unchanged and intact.

This development follows a recent ruling by Judge Analisa Torres, who denied the joint motion submitted by both Ripple and the SEC seeking to modify certain key terms in the court’s final judgment. The denial of this joint request prompted both parties to reconsider their next steps within the litigation process. Alderoty’s comments suggest that Ripple weighed the court’s directive carefully before determining that dismissing the appeal was in the company’s best interest.

Garlinghouse’s message further signals Ripple’s clear intention to redirect its focus away from the prolonged legal challenges and toward its operational goals. The reference to building the Internet of Value reflects Ripple’s continued efforts to expand its global payments infrastructure and further the adoption of blockchain-based financial solutions. His statement conveys a strong message of closure regarding this phase of litigation, indicating confidence in the company’s legal position and strategic direction.

Alderoty’s remarks also make it clear that the decision does not impact the broader clarity Ripple achieved through previous court rulings, particularly the ruling that XRP is not a security in secondary sales. He reaffirmed that, despite the decision to withdraw the appeal related to past institutional sales, the company’s operations will proceed without interruption. The expectation that the SEC will also formally drop its appeal aligns with prior indications from the regulatory body. There is a mutual understanding to bring this phase of the legal dispute to a close. The conclusion of this chapter removes a significant legal overhang that has persisted since the case was first filed in December 2020.