Ripple-SEC Lawsuit Update: Cross-Appeal Dropped, Motion Denied
Ripple’s CEO announced on June 27 that the company withdrew its cross-appeal in the SEC lawsuit over XRP, hinting at a possible end to the legal battle started in 2020. The SEC may also drop its appeal. On June 26, Judge Torres rejected a joint motion to reduce Ripple’s $125M fine and lift the institutional sales ban, leading to a 5% XRP price drop from $2.21 to $2.08, now recovering to ~$2.18 USD. The 2023 ruling persists: XRP exchange sales aren’t securities, but $728M in institutional sales violated laws. A resolution may be near, though appeals could delay until 2026. $XRP (-1,19%)