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.