SEC Drops Ripple Appeal in Landmark Win for Crypto Industry
In what marks a historic moment long anticipated by many, the US Securities and Exchange Commission (SEC) has officially dropped its lawsuit against Ripple (XRP). Ripple CEO Brad Garlinghouse announced the development on X, sharing that the SEC will no longer pursue its appeal. Garlinghouse described the decision as “a resounding victory for Ripple, for crypto, every way you look at it.”
This move follows a series of similar actions by the newly revamped SEC under the Trump administration, which returned to the White House in 2025. Since the start of the year, the administration has introduced a significantly different approach to cryptocurrency regulation.
In late February and early March, the SEC launched its own dedicated crypto task force and dismissed several high-profile lawsuits, including those against platforms like Kraken and Coinbase.
Now, this policy shift has reached one of the most significant legal battles in the industry—the case against Ripple. On Wednesday, the SEC formally withdrew its appeal in the long-running lawsuit against Ripple (XRP), marking a decisive win for the company and a pivotal moment for the broader cryptocurrency sector.
In 2023, U.S. Judge Analisa Torres ruled that while Ripple had violated federal securities laws with institutional sales of XRP, its programmatic sales to retail exchanges did not breach regulations. Many observers considered the decision a partial victory for Ripple. Despite that, the judge ordered Ripple to pay a $125 million fine last August, after which the SEC filed a “notice of appeal.”
Originally filed four years ago under the leadership of former SEC Chair Gary Gensler, the lawsuit has been a symbol of regulatory scrutiny over the digital asset space.
Reflecting on the outcome, Garlinghouse stated the lawsuit was “doomed from the start.” He went on to say, “In many ways, it was the first major shot fired in the war on crypto”. The SEC’s legal action against Ripple ultimately resulted in $15 billion in losses for holders of XRP, further amplifying its impact on the broader crypto market. Garlinghouse added, “I truly felt that I knew then that Ripple was not only on the right side of the law, but I felt that we were also going to be proven to be on the right side of history.”
Previous cases brought by the SEC had ended much more quickly, making its pursuit of Ripple one of the most prominent enforcement actions ever taken against the crypto industry.
The landmark decision appears to have validated Ripple’s stance. Following the news, XRP surged more than 12% in the last 24 hours, according to CoinMarketCap.
