XRP News Today: Ripple Ends SEC Battle, Paves Way for 125 Million Fine and XRP ETFs

Ripple Labs has officially concluded its nearly five-year legal battle with the U.S. Securities and Exchange Commission (SEC) by dropping its cross-appeal. This decision has sparked excitement within the cryptocurrency community, as it paves the way for potential new investment opportunities, particularly a U.S.-listed spot XRP Exchange-Traded Fund (ETF).

Ripple's move to end the legal dispute comes after Judge Analisa Torres rejected a conditional settlement offer. The company's decision to drop its appeal follows the judge's ruling, which noted that the parties failed to justify the change in the settlement terms. Ripple CEO Brad Garlinghouse announced the decision on the social media platform X, stating that the SEC is expected to withdraw its own appeal as well. Garlinghouse emphasized that this move is aimed at closing the chapter on the legal battle and focusing on building the Internet of Value. If the SEC also drops its appeal, Ripple is expected to pay a total fine of $125 million, effectively ending the case.

The resolution of this dispute is seen as a significant development for the cryptocurrency market. It removes a major regulatory hurdle for XRP, allowing the digital coin to gain wider adoption, especially among banks and large financial institutions. The legal status of XRP as “not a security” remains intact, which is a crucial factor for potential investors and market participants.

Industry experts, including ETFStore President Nate Geraci, have suggested that this development paves the way for spot XRP ETFs. Geraci noted that major investment companies like BlackRock are now in a more advantageous position to enter the XRP market. There are currently several XRP ETF applications before the SEC, and according to analysts, there is a high likelihood that these applications will be approved by the October deadline.

Ripple's decision to withdraw its appeal signifies a strategic retreat in the legal battle, allowing the company to focus on its core business activities. The move is seen as a positive development for the cryptocurrency market, as it removes a significant regulatory hurdle for XRP. The resolution of the legal battle between Ripple and the SEC is expected to have broader implications for the cryptocurrency industry. It sets a precedent for how regulatory bodies and companies can resolve disputes, potentially leading to more clarity and stability in the market. The decision also highlights the importance of regulatory compliance and the need for companies to navigate the complex legal landscape effectively.

While the U.S. is still waiting for regulatory approvals, other countries have already taken action. In April, Brazil approved an XRP ETF, with the hope that the U.S. would follow suit. Most recently, Canada gave the green light to the 3iQ XRP ETF, which has quickly grown to $32 million in assets, demonstrating strong investor interest. Legal experts praised Ripple’s latest decision, noting that large investors were already buying substantial amounts of XRP before the case concluded, suggesting that institutions may be preparing for what is to come next.