This article was prepared using automated systems that process publicly available information. It may contain inaccuracies or omissions and is provided for informational purposes only. Nothing herein constitutes financial, investment, legal, or tax advice.
Ripple CEO Brad Garlinghouse announced the company is dropping its cross appeal in the SEC lawsuit, signaling an end to the prolonged legal battle. The decision follows a court ruling rejecting a proposed reduction in penalties for Ripple’s XRP sales.
- Ripple and the SEC have agreed to drop their respective appeals, potentially ending a multi-year legal battle over XRP's classification.
- A U.S. court previously ruled that programmatic sales of XRP to retail investors did not constitute securities, while institutional sales did.
- XRP's price has surged 347% over the past year, maintaining its position as the fourth-largest cryptocurrency by market cap.
📎 Related coverage from: decrypt.co