Ripple vs SEC: Why the XRP Legal Battle Still Isn't Officially Over
Ripple and the SEC have been in a legal dispute since 2020 over a $1.3 billion unregistered securities offering involving XRP. A 2023 ruling favored Ripple, but the SEC appealed, leading to a cross-appeal by Ripple. In March 2023, Ripple's CEO announced the SEC would drop its appeal, resulting in a 14% increase in XRP's value. The SEC agreed to reduce Ripple's penalty from $125 million to $50 million, with the remaining funds returned to Ripple. However, a federal judge rejected the settlement due to procedural errors. Subsequent attempts to dissolve the injunction and release escrowed funds were also denied by the judge. On June 27, Ripple decided to drop its cross-appeal, and the SEC is expected to do the same, potentially concluding the case.
