28.06.2025 00:29

Ripple CEO Brad Garlinghouse has announced the company's decision to withdraw its cross-appeal in the ongoing SEC lawsuit. This significant development marks a potential turning point in the protracted legal battle between Ripple Labs and the Securities and Exchange Commission.

The withdrawal of the cross-appeal, a move that surprised many observers, suggests Ripple is prioritizing a resolution to the case. This strategic shift could indicate a willingness to negotiate a settlement with the SEC, or perhaps reflects confidence in their existing legal standing following a favorable partial summary judgment.

This news follows a partial victory for Ripple in July, where a judge ruled that XRP sales on public exchanges were not securities. However, the SEC's counter-appeal and Ripple's subsequent cross-appeal kept the legal uncertainty lingering. By withdrawing its appeal, Ripple aims to minimize further legal costs and uncertainties.

Garlinghouse's announcement, relayed through various internet sources, has sent ripples through the cryptocurrency market, impacting XRP's price and investor sentiment. The decision's long-term implications remain unclear, but it undeniably signifies a change in strategy for Ripple, altering the landscape of the ongoing legal proceedings. Analysts are now speculating on the next steps for both Ripple and the SEC, anticipating the potential for a negotiated settlement or continued litigation on specific aspects of the case.