SEC Ripple Decision Officially Ends Years-Long Fight, XRP Price Jumps

SEC Ripple Decision Officially Ends Years-Long Fight
Source: Fox Business

The SEC Ripple decision has officially ended the years-long legal battle between Ripple Labs and also the Securities and Exchange Commission, with both parties filing joint dismissal papers on Thursday. This SEC Ripple decision brings closure to a four-year dispute and has actually triggered an immediate XRP price jump, as CoinGecko reveals, with the token right now trading at $3.35.

XRP price jump
Source: CoinGecko

Also Read: XRP Breakout Nears: All Eyes on the Crucial $3.41 Threshold

SEC Ripple Case Closure Sparks XRP Price Jump and Market Optimism

XRP Breakout Nears
Source: FXEmpire

Joint Dismissal Finalizes the SEC Ripple Decision

The Securities and Exchange Commission along with Ripple Labs engineered joint paperwork to the Second Circuit Appeals Court, requesting dismissal of both appeals across several key regulatory channels. The SEC Ripple case resolution confirms that each party will bear their own legal costs, ending the regulatory uncertainty that has been surrounding XRP since late 2020 through various major enforcement actions.

Ripple’s Chief Legal Officer Stuart Alderoty had this to say:

“Following the Commission’s vote today, the SEC and Ripple formally filed directly with the Second Circuit to dismiss their appeals.”

He also added:

“The end…and now back to business.”

Final Ruling and XRP Price Jump Impact

With appeals now abandoned, Judge Analisa Torres‘ July 2023 ruling becomes final across numerous significant market implications. The decision actually determined that XRP sold on public exchanges were not securities, while institutional sales were classified as unregistered securities through multiple essential regulatory frameworks. Judge Torres ordered Ripple to pay $125 million, which was far below the SEC’s original $2 billion request.

The XRP price jump reflects market optimism right now, with the token accelerating 10.6% over the past day. Data shows XRP maximized gains of nearly 99% from its April low of $1.79 to a July peak of $3.56, demonstrating how the SEC Ripple case resolution has revolutionized investor confidence across several key trading sectors.

Regulatory Shift Under Trump Administration

The SEC Ripple decision aligns with President Trump’s promise to reform aggressive crypto enforcement involving various major policy initiatives. The original lawsuit was filed back in December 2020, but the current administration has pioneered a more crypto-friendly approach, with the SEC dismissing multiple cases against crypto companies.

This SEC Ripple decision established important precedent for digital asset regulation, distinguishing between public exchange sales and also institutional transactions through certain critical legal frameworks. The resolution removes regulatory uncertainty that affected XRP for four years, allowing Ripple to leverage business operations without litigation burden across numerous significant market areas.

Also Read: Japan’s SBI Files XRP/Bitcoin ETF as 80% of Banks Adopt Ripple Tech

The XRP price jump to $3.35 reflects renewed market confidence following this landmark SEC Ripple case conclusion.