Ripple Labs, a top-tier blockchain payment company based in the United States, has made a deliberate effort to end the long standing lawsuit. On Friday, Brad Garlinghouse, the CEO at Ripple, announced that the company has dropped its cross appeal.
According to Garlinghouse, the U.S. SEC will also drop its appeal in a bid to end the litigation amicably. The announcement follows the recent decision by Judge Analisa Torres to deny both parties a motion for an indicative ruling.
“We’re closing this chapter once and for all, and focusing on what’s most important – building the Internet of Value. Lock in,” Garlinghouse noted in an X post.
The decision from Ripple Labs to end its cross-appeal case will have a major impact on the XRP market in the midterm and the long term. As Coinpedia has reported in the past, the Ripple vs SEC case has remained a major source of headwinds for the mainstream adoption of XRP in the past four years.
With the SEC expected to drop its cross appeal case officially soon, XRP price is well positioned to regain bullish sentiment. Following the announcement, the large-cap altcoin, with a fully diluted valuation of about $211 billion and a 24-hour average trading volume of around $2.4 billion, gained around 1.5 percent to trade about $2.13 during the late-North American trading session.
From a technical analysis standpoint, XRP price has been consolidating in the last 6 months, with a potential bullish breakout on the cards. However, the midterm bullish sentiment will be invalidated if XRP price consistently closes below the support level around $2 in the coming weeks.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Crypto markets are heating up again as XRP captures investor attention with forecasts pointing to…
October’s been a mixed month for crypto, characterized by heavy swings in both directions that…
Crypto’s no stranger to mood swings, and this week’s been a prime exhibit: general market…
In 2025’s crowded cryptocurrency market, one name is quickly becoming impossible to ignore — Digitap…
Ethereum changed how people saw digital finance. Early backers believed in its use before the…
Early-stage jewels with huge potential are now attracting investors who earlier targeted large-cap coins like…
