Ripple CEO Brad Garlinghouse recently dropped a major update. Ripple officially pulls back its cross appeal, and the SEC is expected to do the same. After years of courtroom drama, this could mark the end of one of Crypto’s most famous battles.
Recently, Judge Torres rejected joint requests from the SEC and Ripple and approved the proposed settlement. The transaction aims to cut Ripple’s civil penalty to $50 million and lift the permanent injunction.
One X user noted that it wasn’t over until the SEC was officially confirmed. Bill Morgan shared that a vote from the SEC Commissioner is still needed, but now it’s not a matter of when.
SEC voting is still necessary, but the results are certain.
Former SEC official Mark Fagel explains that the SEC still needs to formally vote to withdraw the appeal. The SEC’s pre-vote approved only the proposed contract and was not a complete litigation dismissal. The settlement is conditional and the court did not approve it, so the SEC is now required to vote another vote to officially remove the appeal.
The injunction remains
Marc Fagel has confirmed that the injunction against Ripple remains intact while the Ripple-SEC case is effectively over. When asked about Ripple’s institutional strategy, he warned that distributing XRP through other companies could violate securities laws, but said that current loose enforcement of the SEC makes the outcome unpredictable.
Therefore, the fact that Ripple was ready for this decision in less than a day after Torres’ control means that it was planned at least frequently for this scenario, and had the necessary agreement/discussions to advance with the SEC.
Thank you to heaven This is over! https://t.co/4gx0pigywj
– Fred Rispoli (@freddyriz) June 28, 2025
Attorney Fred Rispoli put pressure on Ripple’s surprise announcement, noting that the timing was not a coincidence. Ripple’s decision to drop the cross appeal came one day after Judge Torres’ final decision. This indicates that the outcome is likely to be pre-planned.
According to Rispoli, Ripple and the SEC had already discussed the conditions behind the closed door, and had set up a stage to quietly end this long battle.
Control Stand for 2023: Not the security of XRP retail sales
The XRP price jumped to $2.15 after its announcement. The case will be closed completely once the SEC removes the appeal. This is expected in the coming weeks. The major 2023 ruling remains in place, confirming that XRP sales on exchanges provide ongoing clarity to retailers rather than securities.
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