Overview

• A joint stipulation in the Second Circuit ended both the SEC’s appeal and Ripple’s cross-appeal, formally closing the five-year legal battle.
• Judge Analisa Torres’s July 2023 decision now stands as final, ruling that XRP sales on public exchanges are not securities while institutional offerings violated securities laws.
• Ripple has agreed to pay a $125 million civil penalty, with funds escrowed and set for transfer to the U.S. Treasury under the June agreement.
• Each party will bear its own legal costs and fees, preventing further appellate proceedings in the case.
• XRP’s market price jumped over 10 percent following the dismissal, reflecting renewed investor confidence and reduced regulatory uncertainty.