Prominent crypto influencer JackTheRippler (@RippleXrpie) took to X to share a major development in Ripple’s legal battle against the U.S. Securities and Exchange Commission (SEC).
The influencer shared comments from Ripple’s Chief Legal Officer (CLO) Stuart Alderoty, who expressed excitement about the SEC’s decision to drop the appeal against Ripple.
Alderoty stated, “With the SEC dropping its appeal, Ripple is now in the driver’s seat,” indicating that the company will now assess how to proceed with its cross-appeal. He emphasized that, regardless of the next steps, this was a day of celebration for Ripple.
JUST IN: #XRP lawyer – Stuart Alderoty says: “With the SEC dropping its appeal, @Ripple is now in the driver's seat and we’ll evaluate how best to pursue our cross appeal. Regardless, today is a day to celebrate this victory.” pic.twitter.com/uLiWbQbLYU
— JackTheRippler ©️ (@RippleXrpie) March 19, 2025
Background of the SEC vs. Ripple Case
The SEC initially filed its lawsuit against Ripple in December 2020, alleging that the company had conducted unregistered securities offerings through the sale of XRP. The case quickly became a focal point in the crypto industry, as its outcome could determine how digital assets are regulated in the U.S.
Ripple has maintained that XRP is not a security and should not be subject to securities regulations. In July 2023, Judge Analisa Torres sided with the company, determining that XRP sales on public exchanges did not constitute securities transactions and that the asset wasn’t a security.
However, the court found that Ripple’s sales of XRP to institutional investors violated securities laws, leading to a $125 million penalty in another ruling in August 2024.
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Ripple’s Legal Strategy and Future Moves
With the SEC withdrawing its appeal, Ripple now has an opportunity to challenge the institutional sales ruling through its cross-appeal. Attorney Jeremy Hogan weighed in on this development, explaining that Ripple may attempt to modify the judgment by reducing or eliminating penalties from the ruling and attempting to vacate the permanent injunction.
The company may also choose to drop its cross-appeal and enter into an agreement with the regulator. Hogan pointed out that the case’s resolution provides greater clarity for the cryptocurrency industry regarding the SEC’s approach to digital asset regulation.
This development puts Ripple in a strong position moving forward, and its legal team will now focus on solidifying this victory and minimizing any remaining legal risks.
Market Reaction and Industry Impact
After the SEC dropped the case against Ripple, XRP’s price saw an immediate boost, reflecting renewed investor confidence. The case’s resolution is expected to have lasting effects on the broader cryptocurrency market, as XRP is now free to take over.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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