SEC Drops Ripple Lawsuit, XRP Soars Nearly 15%

XRP surges after CEO Brad Garlinghouse announces SEC is dropping Ripple lawsuit, ending a four-year legal battle.

In a video posted on X, Ripple (XRP) CEO Brad Garlinghouse announced that the US Securities and Exchange Commission (SEC) has dropped its lawsuit against the company, ending a legal battle that has lasted since late 2020. Garlinghouse called it a resounding victory not only for Ripple but also for the entire crypto industry.

According to recent reports, the long-running legal battle between Ripple and the SEC is coming to an end. Previously, the SEC's lawsuit had cost XRP investors up to $15 billion.

This is it – the moment we’ve been waiting for. The SEC will drop its appeal – a resounding victory for Ripple, for crypto, every way you look at it.

The future is bright. Let's build. pic.twitter.com/7WsD0C92Cm

— Brad Garlinghouse (@bgarlinghouse) March 19, 2025

As reported, the SEC filed a lawsuit against Ripple in December 2020, accusing the company of selling XRP as an unregistered security. However, the lawsuit has been controversial, and Garlinghouse has argued that it is part of the government's campaign to control the crypto industry through coercive measures.

Ripple previously won a partial victory when a US court ruled that XRP was not a security when traded on the secondary market. However, the court also determined that XRP sales to institutional investors violated securities laws.

The SEC initially intended to appeal the ruling, but according to Garlinghouse, they have now decided to drop the case entirely. However, at the time of writing, the SEC has not yet made an official announcement about withdrawing the lawsuit. Regardless, the news immediately sent XRP prices soaring, reaching $2.52 — up more than 13% in the short time since Garlinghouse’s announcement.