The Four-Year Legal Battle Between Ripple and the Us Securities and Exchange Commission (Sec) have officially ended, as announced by ripple ceo brad garlinghouse on March 19 X, garlinghouse reaffirmed that xrp is a digital asset, not a security. The crypto market reacted positively, with xrp surgging over 10 percent on International Exchanges on Thursday, March 20.
“With today’s news, the war on crypto has ended in defeat for there Trump’s crypto summit at the white house. “Thankfully, we have a new Leadership that is actively seeking a rational and constructive way forward on crypto. There’s immense options with the largest Economy in the World Finally Taking A Pr Crypto and pro innovation approach to build this technology. “
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
Key details on the sec vs ripple case
The sec filed a case against ripple in 2020, alleging it sold its xrp token as an “unregister security”. At the time, the sec was chaired by gary gensler, who initiated cases against Several Crypto FIRMS and was criticized for curbing industry growth. Sec’s statement on the case in 2020 Had said that ripple labs in Raised over $ 1.3 billion (roughly Rs. 11,213 Crore) Through an unregisterred digital asset seconds offering between 2013 and 2020. Sec’s Laws AlongSide Garlinghouse for Raising The Funds to Finance Ripple’s business.
The sec, at the time had said that ripple should have registered its offering under the federal seconds laws before extended Trading market. The sec had blamed ripple for not providing adequate disclosure about its business and other long-standing protectives that are part of us us’ public market system.
Ripple and its co-founders have consistently denied that xrp was ever a security, distinguishing it from stocks, bonds, mutual funds, and etfs. In his video message, garlinghouse called the case “The first major shot fired in the war on crypto.”
In July 2023, US District Judge Analisa Torres Granted Ripple a Partial Victory, RULING that XRP’s “Programmatic Sales” to Retail Investors did not Qualify as seconds trains. Programmatic Selling Refeers to the Automated Sale of Assets Using Software and Algorithms, without Direct Communication with Buyers.
Last August, Judge Torres reported that XRP sales to institutional investors qualified as securities transactions and fined ripple $ 125 Million. However, the payment was put on hold as ripple appeared to the 2nd us circuit court of appeals in Manhattan. It Remains Uncertain Wheether Ripple will have to pay the fin or if it will be dismissed.
Market reacts
The overall crypto market rose by 2.88 percent over the last 24 hours with Majority Cryptocurrency Reflecting Gains. Bitcoin rose from $ 83,000 (roughly Rs. 71.8 lakh) to $ 86,000 (roughly Rs. 74,24,848). Ripple’s xrp token – which ranks fourth on coinmarketcap’s list of tokens with largest market caps, is predominantly trading at $ 2.44 (roughly Rs. 210).
“The Sec Dropping Its long-Running Case Against Ripple (XRP), Leading to a 10 Percent Jump In the Token. Ahead, “Edul Patel, Co-Founder and CEO of Mudrex Told Gadgets 360. The Coindcx Markets TEAM also called the development” A Historical Win for the Crypto Space “.
Under Donald Trump’s presidency, the sec has dropped cases against Several web3 firms
