Overview

• The SEC and Ripple jointly filed to dismiss their appeals in the Second Circuit, formally ending the five-year lawsuit over XRP’s classification.
• Under the stipulation, each party will cover its own legal fees, avoiding further court proceedings.
• Judge Torres’s July 2023 ruling remains in effect, ruling that XRP sales on public exchanges are not securities while institutional sales violated securities laws.
• Ripple’s $125 million civil penalty, held in escrow since June, is now cleared for transfer to the U.S. Treasury.
• XRP’s price surge highlights renewed investor confidence even as certain legal questions about the token’s status remain unresolved.