Key takeout
The SEC officially withdraws the lawsuit against Ripple and ends a four-year legal battle. The results confirm that XRP is not considered security under current law.
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The US SEC has dropped its long-standing lawsuit against Ripple and has concluded a legal battle that has resulted in approximately $15 billion in losses for XRP holders over the scope of more than four years, Ripple CEO Brad Garlinghouse said in a statement on March 19.
This is it – the moment we were waiting for. The SEC removes its charm. This is all the way to Ripple, Crypto, seeing it in every way.
The future is bright. Let’s build it. pic.twitter.com/7wsd0c92cm
– Blood Girlinghouse (@bgarlinghouse) March 19, 2025
“Finally, we can announce that this case has ended. It’s over,” Garlinghouse said in the video address. “If I sit here today and look back four years ago, it seems very clear that this incident was doomed from the start.”
Garlinghouse’s announcement follows last week’s report that the SEC is deliberating whether to classify XRP as a product during an ongoing settlement discussion with Ripple. Potential reclassification arises from considerations of XRP utility and transaction characteristics, which are compared to Ethereum, which SEC classifies as a product.
Under acting chairman Mark Ueda, the SEC has taken important steps to turn its regulatory approach into crypto. Securities regulators have withdrawn from more than 10 prominent crypto enforcement cases, including those targeting Coinbase, Uniswap Labs, Kraken and others.
“Today is a victory and a long overdue surrender by the SEC. The SEC under Chair GaryGaryGensler chased the entire industry using the same arguments they used against us. They weren’t trying to protect investors. They were threatened and terrified.”
XRP is not security
Garlinghouse argued that the court’s previous ruling that XRP was not security is currently an established legal precedent.
“we I won after that All important legal points that prove it Digital assets XRP is not security. That’s the law now. And these victories laid the foundation for policymakers to adopt Set of Cryptographic Rules The CEO said:
Gerlinghouse declared that today’s resolution marks the end of the “crypto war.” He expressed his hope that Ripple’s successful defenses could serve as a catalyst for players in other industry, encouraging them to stand firm against regulatory overreach.
“We are now closing the Crypto History chapter. I think we are all strong in the success of previous litigation and today’s groundbreaking victory,” Garlinghouse said, pointing to an increase in political support, such as “pro-crypto victory at the ballot box” and “new leadership” in the government that calls for a reasonable and constructive way for Crypto.
Garlinghouse sought industry unity, urging participants to “come together” and “leave tribalism,” expressing his vision of the United States as the “crypto capital of the world.”
Ripple’s CEO thanked Ripple’s employees, legal team, XRP community and partners for their support through a lengthy legal battle.
“We could not win this battle without you guys. There is We work together behind us,” he said.
XRP surged more than 10%, rising from $2.3 to $2.5, following Garlinghouse’s announcement. Data from Coingecko.
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