The legal battle between the SEC and Ripple is finally over. Both parties have agreed to drop their appeals, and each will cover their own costs. Ripple CEO Brad Garlinghouse had already shared in June that the company wanted to put this behind them and focus on building the "Internet of Value."

With the appeals dropped, the 2023 court ruling stands. The court decided that $XRP sales to institutional investors were illegal but ruled in Ripple's favor when it came to sales to retail investors.

Following this news, XRP's price jumped by 7%, going from $3.04 to $3.27.