[#title_feedzy_rewrite]
Ripple CEO Brad Garlinghouse has recently announced on X that the SEC will be dropping its lawsuit against the company, which has been ongoing for nearly four arduous years.
SEC dropped lawsuit on Ripple
The SEC first accused Ripple of marketing XRP as an unregistered security in December 2020, which is when the litigation began.
Since then, XRP has undergone a prolonged period of legal battles in its pursuit of regulatory recognition. Currently, major corporations and institutions are increasingly adopting a favorable view towards this payment crypto platform, as exemplified by Hashdex’s recent filing for an XRP ETF.
This is it – the moment we’ve been waiting for. The SEC will drop its appeal – a resounding victory for Ripple, for crypto, every way you look at it.
The future is bright. Let’s build. pic.twitter.com/7WsD0C92Cm
— Brad Garlinghouse (@bgarlinghouse) March 19, 2025
Previously, the presiding judge in the lawsuit between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs has issued a ruling declaring that the sale of XRP cannot be considered an investment contract.
Specifically, the judge determined that while the sale of $XRP to third-party institutions through direct agreements or over-the-counter (OTC) transactions is considered a security, sales through order books on centralized exchanges are not.
This is considered a significant victory for the payment platform within the cryptocurrency market, and it also fosters greater optimism within the community regarding the prospects of a regulatory framework that supports the development of cryptocurrencies.
XRP’s price reacted positively
Following the announcement, XRP experienced a rapid surge of up to 14%, briefly surpassing ETH‘s Fully Diluted Valuation (FDV). Currently, the token’s FDV stands at approximately $256 billion.
Learn more: XRP Price Prediction
XRP jumped sharply due to positive announcement – Source: CoinGecko
The post XRP Jumped Sharply after the Tweet from Ripple CEO appeared first on NFT Evening.