End of the Line: SEC and Ripple Drop Appeals, Closing the $XRP Case.

Ripple Labs and the U.S. Securities and Exchange Commission (SEC) have officially ended one of the most closely watched legal battles in the crypto industry by jointly dismissing their respective appeals in the U.S. Court of Appeals for the Second Circuit . This action brings closure to a nearly five‑year dispute over whether XRP should be considered a security under U.S. law.

The case originated in December 2020, when the SEC sued Ripple alleging that its XRP sales constituted unregistered securities offerings  . In July 2023, a federal judge ruled that XRP sold on public exchanges did not qualify as a security, but institutional sales did—leading to a $125 million fine and a permanent injunction against further such sales.

Ripple had attempted to negotiate reduced penalties and lift the injunction, but the court rejected these efforts—extending litigation into 2025 . Ultimately, both sides agreed to withdraw their appeals: Ripple dropped its cross-appeal in June, and the SEC followed suit in August .

With today’s filing, the original court ruling stands as final. Ripple remains prohibited from conducting institutional XRP sales without registration, and the $125 million penalty—held in escrow—will now be transferred to the U.S. Treasury . The appeal’s dismissal sent XRP’s price up by about 5%, a clear signal of renewed market optimism. #BitcoinSPACDeal