XRP Price Surges After Ripple Drops Cross Appeal Against SEC

Ripple Ends Legal Fight, XRP Price Soars XRP surged to $2.20 after Ripple CEO Brad Garlinghouse announced that the company is officially dropping its cross appeal in the long-running lawsuit with the United States Securities and Exchange Commission (SEC). The action closes a period of fierce legal fight that began in 2020 and reshaped XRP’s status in the cryptocurrency market. “We’re closing this chapter once and for all,” Garlinghouse wrote on X . “And focusing on what’s most important – building the Internet of Value.” The SEC is also expected to withdraw its own appeal, finalizing the legal ceasefire and removing a major obstacle to XRP’s wider institutional use and exchange listings. Legal Certainty Lifts Market Confidence Prominent crypto lawyer John E. Deaton tweeted succinctly: “And then it ended,” reflecting market sentiment that the lawsuit had been a cloud over XRP’s momentum for far too long. The token had dropped to $2.07 in the 24 hours leading up to the announcement but rallied over 6% to $2.20 shortly after the news. Influencer CrediBULL Crypto was optimistic in reacting to the news, calling the post-lawsuit environment “a fun ride.” He also denied accusations of shilling XRP for payment, pointing to its history as one of crypto’s longest-standing coins. “A coin that has been in the Top 3 for years doesn’t need to pay influencers,” he continued, comparing the legitimacy of XRP to meme tokens. Ripple Eyes Expansion After Legal Victory The expiration of appeals eliminates the final barrier to XRP’s full return to institutional markets. During the litigation, a number of major exchanges had delisted or restricted XRP trading. Ripple has already begun to capitalize on its legal win. In April, the company settled with the SEC for $50 million and regained the majority of the $125 million that was reserved for penalties. The company is also making bold expansionary pushes, acquiring prime brokerage Hidden Road for $1.25 billion and announcing it will launch a NYDFS-approved stablecoin. Political Shifts and Industry Influence Garlinghouse indirectly credited a shift in regulatory tone under the new U.S. administration, citing the SEC’s recent backtracking on other crypto cases involving Coinbase, Uniswap, and Gemini. Supporters view these developments as regulatory clarity finally here. Critics dub it crypto cronyism fueled by campaign donations— including millions from Ripple. Conclusion With the lawsuit in the rearview mirror, Ripple is positioning itself as a crypto finance top dog. For XRP, the rally isn’t just price action—it’s a signal that a new era of growth may be beginning.

Source: BTC Pulse