XRP News Today: Ripple Ends Four-Year SEC Battle, Focusing on Growth

Ripple Labs has concluded its protracted legal dispute with the United States Securities and Exchange Commission (SEC), marking the end of a four-year battle that had cast a shadow of uncertainty over the company and the broader cryptocurrency industry. The decision to forgo further appeals came shortly after Ripple’s CEO, Brad Garlinghouse, publicly acknowledged the XRP community for accurately predicting the outcome of the case. A poll conducted by Digital Assets Daily just days before the final decision revealed that a majority of XRP holders, approximately 74%, believed Ripple would settle the case rather than continue the legal fight. This prediction was validated when Garlinghouse announced on social media that Ripple would not pursue an appeal, expressing gratitude to the community for their unwavering support and insight.

The legal saga took a significant turn on June 26 when Judge Analisa Torres rejected a joint request from both Ripple and the SEC to settle the case with a reduced $50 million penalty and the removal of the ban on Ripple’s institutional sales of XRP. The court maintained the original $125 million fine and the injunction, citing a lack of exceptional circumstances to warrant reversing the previous decision. This ruling left Ripple with two choices: continue the appeal process or accept the terms. The company opted for the latter, choosing to move forward rather than prolong the legal battle. This was not the first time Ripple and the SEC had attempted to reduce the penalties; earlier requests had also been denied by the court.

With the legal battle behind them, Ripple has expressed its intention to focus on business growth and innovation. Garlinghouse reiterated the company’s commitment to building the Internet of Value, an initiative aimed at making cross-border payments faster, cheaper, and more accessible through the use of XRP and blockchain technology. The resolution of the legal dispute has also sparked hope within the crypto community that the approval of the XRP Exchange Traded Fund (ETF) may be expedited. Many anticipate that leading asset manager BlackRock could be the first to launch such an investment vehicle in the United States, further solidifying XRP’s position in the market.