The United States SEC has dropped its lawsuit against Ripple’s XRP after a years-long legal battle that caused huge losses to XRP holders. Ripple CEO Brad Garlinghouse has confirmed the end of the lawsuit. Following the news of the final decision in the SEC vs XRP lawsuit, the price of XRP jumped from $2.35 to $2.57, up 15% in the last 24 hours.
“I can finally announce that this case is over. It’s over,” Ripple CEO Brad Garlinghouse said in an emotional speech broadcast via video. He reflected on the start of the litigation four years ago, saying with conviction that “this case was doomed from the start.”
This is it – the moment we’ve been waiting for. The SEC will drop its appeal – a resounding victory for Ripple, for crypto, every way you look at it.
The future is bright. Let’s build.
— Brad Garlinghouse (@bgarlinghouse) March 19, 2025
Recently, there were reports that the United States Securities and Exchange Commission (SEC) was reconsidering the classification of Ripple’s digital token XRP as a commodity. This potential change comes after a detailed analysis of XRP’s functionalities and market characteristics, placing it on par with Ethereum, which the SEC has already categorized as a commodity.
Under the leadership of Acting Chairman Mark Uyeda, the SEC has significantly altered its regulatory approach toward the cryptocurrency space. Notably, the regulator has backed off on more than ten enforcement actions against big names in the industry, including Coinbase, Uniswap Labs, and Kraken.
“Today is a victory and a long-overdue surrender by the SEC. Under Gary Gensler, the SEC attempted to apply the same industry-wide regulatory rigor that they used against us. Their goal was not to protect investors, but to intimidate and terrorize,” Garlinghouse said.
Ripple’s CEO reiterated the position that XRP is not a security, which is supported by previous court decisions that now serve as legal precedent. “We have won on every critical legal point, establishing that XRP is not a security. That is now the law, and these victories are critical to creating cryptocurrency regulations that are in line with nearly a century of securities law,” Garlinghouse explained.
He further proclaimed the end of the “war on cryptocurrencies” and expressed hope that Ripple’s successful defense would inspire other industry players to push back against excessive regulations.
“We are closing an important chapter in the history of cryptocurrency. We are all strengthened by past litigation successes and today’s historic victory,” Garlinghouse said, also highlighting growing political support, including crypto-friendly electoral victories and new government leadership that seeks to move the industry forward in a rational and constructive manner.
Uniting the industry, Garlinghouse called on everyone to “leave tribalism behind,” envisioning the United States as the future “crypto capital of the world.” He also thanked the Ripple team, the XRP community, and partners for their dedication during the long legal battle. “We could not have won this battle without all of you supporting us and working together,” he concluded.
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