The price of $XRP surged 7% after the prolonged legal battle between Ripple Labs and the United States Securities and Exchange Commission (SEC) officially came to an end.
The Second Circuit Court of Appeals approved the joint motion to dismiss on August 22, closing a litigation that lasted almost five years.
The case, initiated in December 2020, marked a turning point in the crypto industry, as the SEC accused Ripple of conducting unregistered securities sales through XRP. Since then, the process has been closely followed by investors and regulators worldwide.
Ripple triumphs, but with pending fine
The court ruling reflects an agreement between both parties, with the SEC withdrawing its appeal and Ripple doing the same with its counterclaim. This outcome seals the end of one of the most media-covered lawsuits in the digital asset sector.
However, the victory was not without costs. Ripple will have to pay a fine of 125 million dollars, in addition to complying with the previously dictated corrective measures.
This demonstrates that, although the legal conflict has ended, the financial implications remain. The closure of the case comes at a time of regulatory change in the U.S.
During the administration of Joe Biden and under the leadership of Gary Gensler at the SEC, a strong legal offensive was promoted against large companies in the sector.
However, the current administration of Donald Trump has shown a more favorable approach to crypto innovation, accompanied by the approval of new laws in Congress.