Ripple and SEC agree to drop appeals and end legal battle, CEO Brad Garlinghouse says.

"We're closing this chapter once and for all, and focusing on what's most important, building the Internet of Value. Lock in."

Ripple Labs and the US Securities and Exchange Commission (SEC) have mutually agreed to drop their appeals, effectively ending their four-year-long legal battle. This development comes after a federal judge rejected a joint motion by Ripple and the SEC to reduce Ripple's penalty to $50 million.

Ripple CEO Brad Garlinghouse confirmed the company's decision to drop its cross-appeal, with the SEC expected to follow suit.

Ripple will now focus on building the "Internet of Value" and expanding its network.

In July 2023, a court ruled that XRP sales on public exchanges didn't violate securities laws, but institutional sales totaling $728 million did. Ripple was fined $125 million and barred from similar sales.

Analysts predict XRP's price could surge, with potential targets ranging from $3 to $8 in the next year, driven by increased adoption, potential ETF approvals, and a broader crypto bull market.

Garlinghouse expressed gratitude to everyone who supported Ripple during the lawsuit, including employees, customers, partners, and the XRP community. He emphasized the company's commitment to leveraging this victory to promote innovation and growth in the cryptocurrency space.#NODEBinanceTGE $XRP