Ripple CEO Brad Garlinghouse recently spoke at a U.S. Senate Banking Committee hearing about crypto regulations. During his speech, Garlinghouse shared how Ripple became the first major U.S. crypto company to be sued by the SEC back in 2020. He explained that after four tough years in court, Ripple has finally won the legal battle.
“Thankfully, after four years of legal battle, we prevailed. The court ruled in our favor on everything that mattered, including confirming that XRP is not, in itself, a security. Our victory cleared the path for others in the market to fight back,” he said.
Garlinghouse also criticized the unclear crypto rules in the U.S., saying that this confusion has driven innovation, jobs, and investment overseas while putting consumers at more risk.
As for when the case will officially wrap up, former SEC lawyer Marc Fagel weighed in on social media. A user asked how long it might take for the remaining formalities to be settled. Fagel explained that it usually takes about 1-2 months for the SEC to schedule a vote to officially dismiss an appeal.
While it could happen sooner, he said that for now, neither Ripple nor the SEC has dropped their appeals. Most likely, both parties will file a joint agreement once the SEC votes to approve dismissing its appeal.
XRP price has jumped 5% as Ripple’s legal drama continues. The rise comes after Ripple partnered with BNY Mellon to manage RLUSD reserves, showing stronger banking ties. Crypto analyst Ali Martinez said XRP is breaking out of an important pattern on the chart and could soon hit $2.60.
After a four-year legal battle, Ripple prevailed against the SEC. A court ruled that XRP is not, in itself, a security when sold on public exchanges, a significant victory that set a precedent for the broader crypto market.
According to former SEC lawyer Marc Fagel, it typically takes 1-2 months for the SEC to schedule a vote to officially dismiss an appeal. Both Ripple and the SEC are likely to file a joint agreement once the SEC approves its appeal dismissal.
XRP’s price jumped 5% recently, driven by Ripple’s BNY Mellon partnership (managing RLUSD reserves) and the ongoing positive sentiment from the SEC lawsuit outcome. Analysts predict a potential rise towards $2.60.
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