XRP Surges Over 13% After Ripple and SEC Drop Final Appeals in Landmark Case
Main Idea
Ripple Labs and the US SEC have ended their legal battle, with both parties withdrawing their appeals, leading to a 13% surge in XRP's price and marking a significant development in cryptocurrency regulation.
Key Points
1. Ripple and the SEC filed a joint notice to withdraw their appeals, ending a nearly four-year legal dispute.
2. XRP's price surged over 13% following the announcement of the legal resolution.
3. The SEC dropped its challenge to a 2023 ruling that found XRP was not a security when sold on public exchanges.
4. The case began in 2020 and became a test for how US courts view digital tokens.
5. The resolution comes amid regulatory shifts and a scaling back of aggressive crypto enforcement by the SEC under new leadership.
Description
Ripple Labs and the US SEC have officially ended their nearly four-year legal fight, marking one of the most closely watched cases in crypto history. The move sent XRP up more than 13% following the announcement. On Thursday, both parties filed a joint notice with the US Court of Appeals for the Second Circuit, stating they would voluntarily withdraw their respective appeals. The SEC dropped its challenge to a 2023 ruling that found Ripple’s XRP token was not a security when sold on public excha...
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