Insights

SEC’s Official Statement on Ripple Lawsuit Still Pending: Here’s What We Can Expect Brad Garlinghouse, CEO of Ripple, recently announced that the SEC has finally dropped its appeal against Ripple, marking the end of a lengthy legal battle that lasted over three years. The SEC has decided not to pursue further legal action, confirming that Ripple is no longer under threat from the regulatory body. This decision has had an immediate impact on XRP ’s price, which surged following the announcement. The legal saga , which began with the SEC’s claim that Ripple violated securities laws by selling XRP, has been a major point of contention in the cryptocurrency space. Despite a series of favorable rulings for Ripple, the SEC continued to appeal in January 2024, even after the resignation of SEC Chairman Gary Gensler. The ongoing legal challenges frustrated Ripple and its supporters, especially since the court.