After nearly four years of legal uncertainty, the battle between Ripple and the U.S. Securities and Exchange Commission (SEC) has officially come to an end. Ripple CEO Brad Garlinghouse took to X just minutes ago to share the long-awaited news, declaring, “I’m finally able to announce that this case has ended. It’s over.”
Garlinghouse reflected on the lawsuit’s turbulent history, emphasizing that while Ripple never sought this legal fight, it was a battle that had to be won—not just for the company, but for the entire cryptocurrency industry.
The resolution comes amid a major shift in the U.S. political landscape following Donald Trump’s resounding victory in the 2024 presidential election.
Throughout his campaign and into his second term, Trump signaled a friendlier stance toward digital assets, even promising to fire former SEC Chair Gary Gensler on his first day in office.
The subsequent leadership shake-up at the SEC fueled speculation that the case against Ripple would be dropped—a prediction that has now materialized.
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Ripple’s Legal Battle: A Defining Moment for Crypto
During Trump’s first presidential term, the SEC filed a lawsuit against Ripple in 2020 due to its unregistered selling of XRP tokens, which generated $1.3 billion in funds.
The legal dispute triggered a domino effect in the crypto sector, forcing major trading platforms to remove XRP from their platforms and reducing XRP holder funds by billions.
A landmark 2023 court decision issued by U.S. Judge Analisa Torres established that Ripple had violated securities rules through institutional XRP sales yet found programmatic retail transactions did not violate the law.
Ripple obtained some relief from the court verdict, but the company had to pay a $125 million monetary penalty in August.
The SEC continued the case by filing an appeal notice, which increased regulatory ambiguity for an extended period. CEO Brad Garlinghouse from Ripple describes the case as the first major “crypto war” instance due to massive XRP losses of $15 billion.
The Ripple case separated itself from other SEC enforcement actions that usually ended swiftly by developing into the industry-wide crypto fight of its kind.
Ripple and the crypto market are optimistic about the SEC’s decision to retreat from their previous position.
XRP Price Surges as Investors Celebrate Victory
After confirming that the case had ended, XRP surged 12.64% in 24 hours, reaching $2.53. Market sentiment turned overwhelmingly bullish, with trading volume skyrocketing by nearly 80%, totaling $6.42 billion.
Price action shows that XRP maintained a steady uptrend throughout the day before experiencing a sharp breakout, coinciding with Garlinghouse’s announcement.
Before the news, XRP was trading near $2.24, but the immediate reaction pushed the token past $2.50, reinforcing optimism in the market.
Source: CoinMarketCap
With a market cap now surpassing $147 billion, XRP has solidified its position as the third-largest cryptocurrency, proving its resilience despite years of legal turmoil.
The sudden price surge suggests a renewed confidence in Ripple’s future, as investors now anticipate a more favorable regulatory landscape for digital assets.
As the dust settles on this historic lawsuit, the crypto industry is watching closely to see how Ripple leverages this victory and what it means for the broader regulatory environment in the U.S.
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