XRP jumps over 13%, thanks to the epic end of the Ripple-SEC battle

For nearly four years, Ripple Labs and the SEC played a high-stakes legal chess match that held the crypto world captive.

Now? They’ve both dropped their appeals, signaling the final whistle on the case. And oh boy, did XRP feel it, surging more than 13% after the news hit the street.

Win

Originally, back in 2020, the SEC threw down the gauntlet, accusing Ripple of running an unregistered securities sale through XRP.

It was a big deal, like a gangster boss testing the waters of the new turf called digital tokens. The courts had to figure out, is XRP a security or just another crypto player?

Fast forward to July 2023, when Judge Analisa Torres made a split call. She said Ripple crossed the line selling XRP directly to institutional investors, that was a no-go.

X

But, and here’s the plot twist, selling XRP on public exchanges to regular people?

Nope, not a security sale. Partial win for Ripple and a rare win for the crypto gang at large.

$125 million fine

Still, the fight wasn’t over. The SEC appealed that retail sales part, while Ripple countered with their own cross-appeal, like two wise guys refusing to back down.

But then the winds shifted, Trump’s return and new SEC chiefs cooled down the aggressive enforcement tune. More than a dozen other crypto cases just folded.

By June last year, Ripple and the SEC struck a deal, a permanent injunction, a $125 million fine locked away in escrow, and a promise Ripple wouldn’t play dirty in future institutional XRP sales.

Judge Torres polished off the rough edges by refusing to lower that fine despite several tries.

Growth

And just like that, with the appeals dropped this July, the final chapter’s written. Now the 2023 ruling stands firm, a decision setting the courtroom blueprint on how crypto assets get labeled in America.

So what’s next? For Ripple, it’s like the doors to a new playground swinging wide open.

With some regulatory fog lifting, especially in places already clear on crypto rules, Ripple can grow without dragging that heavy lawsuit baggage.