After years of legal wrangling, Ripple is formally stepping away from its courtroom battle with the U.S. Securities and Exchange Commission (SEC), signaling a final shift in focus toward its broader business goals.
Ripple CEO Brad Garlinghouse announced on Friday via a post on X (formerly Twitter) that the company is dropping its cross-appeal, a legal move that would have challenged specific parts of the court’s earlier ruling.
"We’re closing this chapter once and for all, and focusing on what’s most important – building the Internet of Value," Garlinghouse wrote. "Lock in."
Ripple is dropping our cross appeal, and the SEC is expected to drop their appeal, as they’ve previously said. We’re closing this chapter once and for all, and focusing on what’s most important – building the Internet of Value. Lock in. https://t.co/ZsRgDfcpLh
— Brad Garlinghouse (@bgarlinghouse) June 27, 2025
The high-profile case began in 2020, when the SEC accused Ripple of illegally raising $1.3 billion by selling XRP, which it claimed was an unregistered security. The legal battle captured the attention of the broader crypto industry, as its outcome had implications for how digital assets might be regulated going forward.
In July 2023, U.S. District Judge Analisa Torres issued a split decision. She ruled that Ripple’s programmatic sales of XRP—those sold through exchanges—did not violate securities laws due to the anonymous nature of the transactions. However, the court determined that XRP sales made directly to institutional investors did meet the definition of unregistered securities, leading to a $125 million penalty against Ripple.
Garlinghouse’s latest remarks come a day after the court denied a joint request by Ripple and the SEC to lift an injunction that would have clarified how much of the penalty would go to each party. The proposal on the table suggested that $50 million of the $75 million fine would be paid to the SEC, with the remaining $25 million retained by Ripple. That request was declined.
Ripple had already signaled its intention not to pursue a cross-appeal earlier this year. While the company has not elaborated further, the decision to formally abandon it underscores Ripple’s readiness to move beyond the courtroom and concentrate on product development and growth.
Ripple’s decision to drop its cross-appeal marks a definitive end to one of the crypto industry's most closely watched legal battles. As regulatory frameworks continue to evolve, Ripple is shifting its energy toward innovation and global expansion, aiming to build what it calls the "Internet of Value"—a decentralized system for transferring assets and information efficiently across borders.
