Bye sec

After a high-profile legal battle that spanned over four years, the U.S. Securities and Exchange Commission (SEC) officially closed its lawsuit against Ripple.

In a one-minute video posted on X, Ripple’s Chief Legal Officer Stuart Alderoty attributed the SEC’s retreat to regulatory ambiguity.

In the newest Crypto In One Minute, Ripple's Chief Legal Officer @s_alderoty explains why the SEC dropped its appeal against Ripple in March 2025, and where the US is going with smart crypto regulation on the horizon: https://t.co/HJ4wTBWDmx

🔒 Protecting consumers
🟢… pic.twitter.com/KD9bi66sGI

— Ripple (@Ripple) May 2, 2025

Alderoty summed up six years of litigation in a few words, pleading that the SEC cannot justify enforcement without first giving legal clarity. “You can’t sue someone before you explain the rules,” he said, criticizing the agency’s approach to crypto oversight.

A quiet yet impactful victory that Ripple was able to win was having the SEC drop the case after the SEC itself withdrew its final appeal in March 2025. However, legal observers view the move as an admission that the SEC’s case had no strong regulatory foundation.

With the lawsuit behind them, Ripple is now ready to start working with lawmakers, according to Alderoty. He also stressed the need to leave the courtroom and focus on cleaning up regulatory confusion that has plagued the crypto sector for quite some time. The firm has indicated that it intends to work with Congress in pursuit of a legislative approach to supporting innovation, not at the expense of compliance. 

Ripple expands its connections

Now that the lawsuit is behind it, Ripple has its focus back on expanding globally. The company recently purchased Hidden Road in an acquisition for $1.25 billion, which bolsters the company’s position in both brokerage and traditional finance settlement. 

In a bolder move, Ripple allegedly increased its proposed offer to acquire Circle’s USDC issuer to more than $20 billion from $5 billion. Bloomberg sources said the deal is being actively negotiated.

If Ripple succeeds, it will take possession of the world’s second-biggest stablecoin and change the balance of power in the stablecoin market. The acquisition comes as Circle has recently filed for a U.S. IPO and is taking a cautious approach in public markets.

Ripple’s international progress is also marked by its payment corridor developments. Ripple continues to work with SBI Remit in Japan to power faster, cheaper remittances, using XRP as a bridge asset. It joins MoneyGram and Stellar in creating real-world utility for crypto in cross-border payments. Ripple’s model cuts down on foreign exchange costs and allows users to eliminate the necessity of pre-funded accounts in underbanked markets.

XRP ETF odds climb

The growing prospect of an XRP spot ETF approval has grabbed the market’s attention. Polymarket data shows that the probability of approval by the end of 2025 has risen to 78% from 65% in recent weeks.

Polymarket odds of an XRP spot ETF approval by the end of 2025 are up to 78%. Source: Polymarket

Analysts say that the SEC’s passive stance and quiet acceptance that XRP ETF filings can be filed indicate that approval could already be happening. If approved, the XRP ETF will expose institutional and retail investors to XRP while avoiding the need to hold the token directly. The move would follow in the footsteps of Bitcoin and Ethereum ETFs, which have already opened the floodgates on capital inflows.

XRP is trading at $2.20 after rising over 5% over the last 24 hours. The coin’s volume is currently over $2.1 billion. Investor behavior also points to optimism. However, Santiment also noted that whale wallets holding between 10 million and 100 million XRP have added 200 million tokens this week.

Whale wallets holding between 10 million and 100 million XRP added 200 million tokens this week. Source: Santiment

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