The SEC has officially dropped the lawsuit against Ripple (XRP). The U.S. Securities and Exchange Commission (SEC) has officially withdrawn its lawsuit against Ripple, marking the end of a prolonged legal battle. Ripple's CEO, Brad Garlinghouse, confirmed this information and stated that the lawsuit has completely closed, driving XRP prices to surge.

Garlinghouse declared that this is a landmark lawsuit, marking the beginning of the legal battle between the SEC and the cryptocurrency industry. He emphasized that Ripple has achieved an important victory, proving that XRP is not a security, a decision with clear legal implications.

This lawsuit has caused approximately $15 billion in damages to XRP investors. According to Garlinghouse, former SEC Chair Mary Jo White also noted that the SEC made a serious mistake in pursuing the lawsuit. He criticized the SEC leadership under Chair Gary Gensler for escalating the war against the entire cryptocurrency industry with arguments similar to those in the Ripple case.

During the trial, the SEC was criticized by the court and even sanctioned for abusing the litigation process. The judge condemned the agency for its serious lack of compliance with the law. Garlinghouse asserted that Ripple did not wish to engage in this lawsuit but was forced to defend itself, and ultimately emerged with a resounding victory.

He expressed gratitude to the legal team led by Legal Director Stu Alderoty, Ripple employees, and the XRP community who stood by during the legal struggle. Garlinghouse also emphasized that with changes in leadership in executive and legislative bodies, the U.S. needs to quickly establish a clear legal framework for cryptocurrencies, aiming to become the world's leading financial center for blockchain and digital assets.