SEC vs Ripple Case Ends, XRP Price Rises 10%!

Bittime - XRP price rises significantly after Ripple CEO Brad Garlinghouse confirmed that the SEC was no longer pursuing an appeal in the SEC vs Ripple case. 

Hours after the announcement, the price of XRP rose 10% to reach $2.49. What is the basis for this change in the SEC's attitude? Read this article to find out more!

XRP Price Rises 10%

Source: Bittime.com

This SEC vs Ripple case has been ongoing since 2020, which is often considered to be hindering the growth of XRP. 

Sure enough, the end of this legal battle immediately had a positive influence on the crypto market, the price of XRP even rose 10%.

Based on the Bittime market, XRP price is currently trading at $2.4553, up 7.10% at the time of writing.  

Read Also: Can XRP Price Break $3? Here's the Analysis! 

The Long Journey of the SEC vs Ripple Case

Brad Garlinghouse revealed that the legal battle between SEC vs Ripple which has been going on for almost four years and three months has been a very difficult and tiring journey.

Garlinghouse reiterated his belief that Ripple is on the right legal path. According to him, the SEC has acted unfairly in targeting the crypto industry, especially Ripple. Even though there were no victims or investors who suffered losses. 

SEC Lawsuit and Ripple's Partial Win

SEC vs Ripple case first started when the SEC sued Ripple in 2020 alleging that Ripple violated US securities laws because it sold XRP without registering it first. 

Ripple achieved a partial victory in 2023 after US District Judge Analisa Torres ruled that XRP was not a security when sold to retail investors on exchanges. 

However, the decision also states that XRP is still considered an unregistered security if sold to institutional investors.

Now, the SEC has withdrawn its lawsuit against Ripple. This is considered as an important win for the crypto industry as it provides further clarity regarding the legal status of digital assets.

Read Also: XRP Price Prediction to Increase in 2025, Here's the Reason! 

SEC's Changing Attitude Towards Crypto

The SEC's change in attitude towards the crypto industry has become increasingly visible in recent months. The SEC has withdrawn various lawsuits and investigations against major companies, such as Coinbase, Robinhood Crypto, Uniswap, Gemini, and Consensys.

In addition, the SEC also reduced its special crypto law enforcement unit and stated that meme coins are not securities.

This week, the SEC's newly formed crypto task force will begin a series of discussions to determine the future legal status of digital assets. 

This step signals a shift in the regulator's approach to the crypto industry, which was previously more repressive.

Read Also: XRP Price Analysis is Stable Even though the Crypto Market is Crashing 

Role XRP in the Ripple Ecosystem

XRP was created by the founders of Ripple in 2012 and functions as a native token on the open-source XRP Ledger network. 

Ripple uses XRP for its cross-border payment services, about 95% of which takes place outside the United States. Currently, Ripple is still the largest holder of XRP tokens.

The SEC's decision to withdraw its appeal against Ripple was also the main catalyst for the XRP price to rise. This crypto asset also has the potential to continue to experience price increases, especially if global adoption of Ripple technology becomes more widespread.

Read Also: Ripple Plans to Launch XRP Depository Receipts, What Are They? 

XRP FAQs

What is XRP and what is its use?

XRP is a digital asset created by Ripple Labs and designed to facilitate cross-border payments. XRP blockchain technology enables transactions in just a few seconds with very low fees making it ideal for international money transfers and micropayments.

What is the Difference Between XRP and Other Cryptocurrencies Like Bitcoin?

XRP supports a cross-border payment system with a focus on speed and cost efficiency, different from Bitcoin which functions more as a store of value and investment tool. In addition, XRP uses a consensus mechanism that does not require mining so it is more energy efficient.

How much is 1 XRP USD?

Currently, 1 XRP is worth $2.45. 

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Reference

MSN, XRP surges after Ripple CEO Brad Garlinghouse says SEC is dropping its lawsuit against the company, accessed March 20, 2025.

Coinmarketcap, Currencies-XRP, accessed March 20, 2025.

Author: IPR