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SEC and Ripple Jointly Dismiss Appeals, Concluding Five-Year XRP Lawsuit

Preserving Judge Torres’s 2023 split decision with a $125 million fine intact, the dismissal removes a long-standing cloud over XRP markets.

A representations of cryptocurrency Ripple is seen in front of a stock graph and U.S. dollar in this illustration taken, January 24, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
SEC and Ripple file motion to drop XRP appeals in Second Circuit
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Overview

  • The SEC and Ripple filed a joint stipulation under Federal Rule of Appellate Procedure 42(b)(1) to withdraw their appeals to the Second Circuit, formally ending the litigation.
  • The 2023 ruling by U.S. District Judge Analisa Torres, which deemed retail XRP sales non-securities and institutional sales securities, remains in effect with its $125 million penalty and permanent injunction intact.
  • Each side will bear its own legal costs under the stipulation, closing the door on further appellate proceedings.
  • XRP’s price jumped more than 10% to around $3.33 after the dismissal, reflecting renewed investor confidence and reduced regulatory uncertainty.
  • Under President Trump’s reshaped SEC, the agency has stepped back from high-profile crypto enforcement, positioning this resolution as part of a broader policy shift.