How It All Started
Back in December 2020, the SEC sued Ripple. They claimed Ripple sold $1.3 billion worth of XRP without registering it as a security. Things shifted in July 2023 when Judge Analisa Torres ruled that XRP sales to the public weren’t securities. That was a huge hit to the SEC’s case. The agency kept fighting over sales to big investors, but now they’ve decided to drop everything.
Why This Matters
This is a major victory for Ripple. It could change how the U.S. views and regulates digital currencies. The decision might even guide the SEC’s future actions in the crypto space.
Is the SEC Softening on Crypto?
The SEC had until April 16 to appeal but chose not to. This fits a recent pattern—they’ve also dropped cases against Coinbase, Kraken, Robinhood, Uniswap, and others in the last month. It’s starting to look like a shift in their approach.
XRP’s Price Takes Off
After the news broke, XRP’s price jumped almost 15%. Trading volume shot up 80% in a day. People in the industry think this could lead to clearer rules for crypto. Some even say it boosts the chances of an XRP exchange-traded fund (ETF) getting approved.
What’s Next?
Everyone’s watching to see what the SEC does with crypto regulation moving forward.
