XRP Jumps as Ripple CEO Brad Garlinghouse Says SEC 'Case Has Ended'
Published
"I'm finally able to announce that this case has ended. It's over," Garlinghouse said in a video shared on his X account.
By Matt BrienenRipple Labs CEO Brad Garlinghouse said in a video shared to his X account Wednesday that the SEC will drop its appeal in the lawsuit it's been pursuing against the firm for the past four years.
"I'm finally able to announce that this case has ended. It's over," Garlinghouse said on X, formerly known as Twitter. “Today is a victory and [a] long overdue surrender from the SEC.”
This is it – the moment we’ve been waiting for. The SEC will drop its appeal – a resounding victory for Ripple, for crypto, every way you look at it.
The future is bright. Let's build. pic.twitter.com/7WsD0C92Cm
— Brad Garlinghouse (@bgarlinghouse) March 19, 2025
Ripple, which uses XRP Ledger and the XRP cryptocurrency, got a partial ruling in its favor in 2023, but the SEC filed an appeal seeking to have that decision overturned.
A federal New York judge found that Ripple’s "programmatic sales” of XRP on a secondary market did not constitute securities transactions, while those made to institutional investors did.
To be clear, the SEC has not yet made an announcement that it will drop its appeal. At the time of writing, the XRP price has climbed as high as 14% to $2.55, according to CoinGecko data.
A Ripple spokesperson confirmed to Decrypt that the SEC’s decision is “subject to Commission vote and approval.” It may take “several weeks” for the case to be officially withdrawn, they said, adding: “That timeline is completely in the SEC's control.”
The SEC declined to comment when asked for details about the Ripple lawsuit by Decrypt.