Ripple v. SEC: Ripple now in Driver’s Seat, Says CLO

After more than four years of intense legal proceedings, the U.S. Securities and Exchange Commission (SEC) officially withdrew its appeal against Ripple. This marks a significant milestone in the prolonged courtroom battle that has shaped discussions around cryptocurrency regulation in the United States.

Ripple’s Chief Legal Officer, Stuart Alderoty, celebrated the development on social media, calling it a landmark victory for the company and the broader digital asset industry.

Setting a Precedent for Crypto Regulation

Alderoty emphasized that the Ripple lawsuit has set an important legal precedent, with implications that extend beyond the company itself. The case has been closely monitored across the crypto space, as its outcome influences how U.S. regulators scrutinize blockchain projects.

The SEC initially sued Ripple Labs in December 2020, alleging that the company had sold XRP as an unregistered security. Ripple, however, resisted the regulatory body’s claims, arguing that XRP did not meet security criteria.

Following a mixed ruling in June 2023, the SEC escalated the matter by appealing the decision in early 2024. With the appeal withdrawn, Ripple finds itself in a stronger position to challenge any aspects of the case it deems unfavorable.

Ripple Looks to the Future

With the legal battle behind it, Ripple is shifting its focus toward business expansion. According to Alderoty, the resolution of the case allows the company to operate without the distraction of ongoing litigation. This is expected to accelerate Ripple’s efforts in the global cross-border payments sector.

“With the SEC stepping back, Ripple is in full control, and we’ll determine the best course for our cross-appeal,” Alderoty stated.

XRP Surges Following the Legal Victory

The SEC’s decision to drop its appeal against Ripple has sent shockwaves through the cryptocurrency market, causing XRP’s price to surge by over 14%. This sudden move has fueled investor optimism about the cryptocurrency’s future, pushing XRP beyond the critical $2.50 resistance level. The news has also sparked a significant increase in trading volume, with XRP’s market capitalization reaching $148.72 billion. 

Market analysts believe that XRP could experience substantial growth in the coming months, with the legal uncertainty removed. Some even predict it could reach new all-time highs, as confidence among retail and institutional investors strengthens.

Despite recent downturns in the broader crypto market, XRP has remained resilient, attracting increased interest from major financial players. With the legal cloud lifted, Ripple and its native token may be poised for a new era of growth and adoption.

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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