The End of a 4-Year Nightmare

In a stunning development, Judge Analisa Torres has officially dismissed all remaining claims in the SEC vs Ripple case, bringing to an end the longest-running cryptocurrency lawsuit in U.S. history. The SEC has agreed to drop its appeal of the 2023 ruling that found XRP is not a security when sold to retail investors on exchanges. The decision represents a complete vindication for Ripple CEO Brad Garlinghouse and the XRP community, who have fought the SEC tooth and nail since the case began in December 2020. XRP surged 40% in the hours following the announcement, breaking through $3.20 for the first time since 2018.

Major Implications for the Industry

The ruling has immediate and far-reaching implications for the entire crypto industry. Major U.S. exchanges including Coinbase, Kraken, and Gemini have already announced they will relist XRP for trading. The decision undermines the SEC's entire Howey Test framework for determining securities, potentially benefiting dozens of other cryptocurrency cases currently working through the courts. Ripple's $125 million civil penalty from the original ruling stands, but the company has confirmed it will appeal that portion. The victory provides much-needed regulatory clarity and could pave the way for other altcoins to regain access to U.S. markets.