The U.S. Securities and Exchange Commission (SEC) has withdrawn its appeal against Ripple, seemingly bringing a four-year legal battle to a close. Yet, the absence of an official SEC statement and a pending cross-appeal by Ripple raise questions: is this truly the final chapter?
While the development marks a major step forward, the case is not entirely over – and the crypto world is watching closely.
🎉 “A Major Win for Ripple and the Crypto Industry”
Ripple CEO Brad Garlinghouse welcomed the move with enthusiasm, calling the SEC’s decision a “major victory.” In a video message, he shared that Ripple had remained confident in its defense, despite a long and difficult legal journey.
The SEC originally alleged that XRP was an unregistered security, which triggered years of uncertainty for XRP holders and the broader crypto market. Ripple reportedly spent over $150 million fighting the case.
Garlinghouse also criticized SEC Chairman Gary Gensler, accusing him of using lawsuits to intimidate crypto companies. With this outcome, Garlinghouse believes that era may finally be ending.
🤫 The SEC’s Silence Raises Eyebrows
So far, the SEC has not officially commented on the withdrawal of its appeal. According to Fox Business journalist Eleanor Terrett, the SEC will likely address the matter in its upcoming closed-door meeting on Thursday, after which a press release is expected.
The delay is not unusual, as SEC litigation decisions typically require internal approval before being made public.
🔄 Ripple Takes the Wheel – Now the Plaintiff
In an interview with Bloomberg, Garlinghouse explained that despite the SEC backing down, Ripple’s cross-appeal remains active, signaling a shift in the legal dynamic.
“We’ve gone from being the defendant to being the plaintiff. Now we’re in the driver’s seat,” he said.
This means Ripple now has control over how to proceed, giving the company a stronger legal position moving forward.
🔍 What’s Next?
While the SEC’s withdrawal feels like the final act, the legal case is not officially closed. Ripple can still pursue its cross-appeal, and the outcome may shape how future crypto cases are handled.
Whether this marks the “official end” will depend on the SEC’s next steps – and Ripple’s own legal strategy.
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