SEC and Ripple end the lawsuit! Both sides abandon the appeal, and XRP's final ruling leads to a price surge.

The long-standing legal dispute between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs has finally come to an end. Both parties have formally agreed to abandon their appeal to the Second Circuit Court, allowing Judge Torres's 2023 ruling on Ripple (XRP) to become the final judgment. This historic move not only brings a clear answer to XRP's regulatory status but also caused the coin price to pump over 7% in a single day, making it the focus of the crypto market. This article will comprehensively analyze the background of the case's conclusion, the content of the ruling, and its far-reaching impact on the encryption industry.

SEC and Ripple reach settlement, ending protracted lawsuit

(Source: SEC)

According to the latest submitted joint withdrawal agreement, the SEC and Ripple Labs, along with its executives, have agreed to withdraw all appeals and each bear their own legal costs. This means that the most closely watched crypto litigation case since December 2020 has officially come to an end, with both parties no longer engaging in further legal disputes over the regulatory status of XRP.

XRP ruling remains unchanged, secondary market sales not securities

In July 2023, Judge Torres ruled that the trading of XRP in the secondary market does not constitute a security, but institutional sales do constitute illegal securities offerings. With both parties abandoning appeals, this mixed ruling became the final judgment, establishing an important precedent for the regulatory framework of XRP and other digital assets in the United States.

XRP price experiences a big pump, market confidence significantly rebounds

After the news was announced, the price of XRP quickly surged over 7%, rising from $3.04 to $3.27. Investors generally believe that after the regulatory uncertainty is lifted, XRP will welcome broader application prospects and capital inflows, and market sentiment has obviously improved.

The impact on the industry is far-reaching, and regulatory clarity is improving

The end of this lawsuit is not only a significant victory for Ripple, but also a positive signal for regulatory clarity in the U.S. crypto market. In the future, this ruling may impact the classification of other tokens under U.S. securities law and encourage lawmakers to accelerate the development of a more comprehensive crypto regulatory framework.

Conclusion

The settlement between the SEC and Ripple marks an important milestone in the regulatory process of the cryptocurrency industry. The final ruling on XRP allows the market to see the possibility of coexistence between regulation and innovation. Investors and industry participants can continue to pay attention to subsequent policy trends and seize new market opportunities.