Ripple Drops Appeal in SEC Battle, Paving Way for Final Verdict on XRP

Ripple Labs may have finally reached the end of its long-running legal showdown with the Securities and Exchange Commission. The company pulled its appeal last week, and now all eyes are on the SEC to see if it will do the same. Investors are watching closely — but many of them already priced in the outcome.

A Final Twist in a Four-Year Fight

Ripple’s decision to back off wasn’t some quiet whimper. It came after a sharp rebuke from Judge Analisa Torres, who wasn’t having any of it. She denied Ripple and the SEC’s joint request to walk back her prior decision. Then Ripple blinked first.

In 2020, the SEC accused Ripple of selling unregistered securities through its XRP token. It was one of the first big crypto cases, and the outcome was expected to shape the future of the entire space. Two years later, Judge Torres ruled that XRP sales to institutions were securities violations, while retail sales weren’t.

Both parties said they’d appeal — and did. But in June, that changed.

Why the Judge Said “Nope” to a Deal

Let’s be clear: this wasn’t just a judge declining a motion. Torres effectively slapped both Ripple and the SEC across the face with their own arguments.

In her June 26 decision, she reminded the parties that the law isn’t some restaurant menu where you can pick and choose what you like. Nothing had changed. Not the facts. Not the context. So why drop the injunction or the fine?

She quoted the SEC’s own words, saying Ripple had acted “recklessly.” The misconduct, she noted, wasn’t a thing of the past. And so, she stuck with her ruling: the injunction on institutional XRP sales stays, and Ripple owes a $125 million fine.

Ripple Waves the White Flag — Will the SEC Follow?

The very next day, Ripple’s CEO Brad Garlinghouse said the company would ditch its cross-appeal.

That move surprised almost no one. It was a recognition that Torres wasn’t budging and that there wasn’t much left to gain. Now, everyone’s waiting to see if the SEC will make the same move — and there’s a good chance it will.

Former SEC litigator Marc Fagel noted that such a decision could take a month or two. The agency has to vote on it internally, and even under the new administration, it moves slowly.

XRP Price Shrugs — Investors Already Saw This Coming

XRP fell 5% when the judge denied the motion. But it bounced right back after Ripple pulled the appeal.

Basically, the market saw this ending coming from a mile away. Since Trump won the presidency again, XRP has shot up over 300%. A lot of that surge? Driven by expectations that the legal weight would lift soon.

So, while this week might mark the official closing of the courtroom drama, there’s probably not much upside left in the short term — not from legal relief, anyway.

The Bigger Picture: XRP’s Strength in Spite of It All

Here’s the part that might surprise some people: XRP didn’t just survive the legal mess — it thrived through it.

That says something.

Ripple’s token remains one of the largest cryptos by market cap. At nearly $130 billion, it’s worth twice as much as PayPal. That’s kind of wild when you think about how little visibility there is into Ripple’s actual numbers.

The injunction only blocked Ripple from selling XRP to institutions illegally. It could still sell — just within legal limits. Yet Ripple clearly wanted that injunction gone. So yeah, it probably did hurt.

Still, without hard financials, investors are left guessing about the real damage.

What Could Drive XRP’s Next Big Move?

Ripple may have put the court case behind it, but for XRP to gain real ground, a few things need to happen. Here’s what to watch for:

• SEC Withdrawal: If the SEC drops its appeal, that’ll be the official end. Not dramatic, but symbolic — and clean.

• XRP ETF Approval: Several investment firms have applications in the pipeline. If one gets approved, it could open floodgates for retail and institutional investment.

• Stablecoin Growth: Ripple launched RLUSD, its dollar-pegged stablecoin, late last year. Will it complement or cannibalize XRP? Time will tell.

• More Partnerships: Ripple already works with banks and payment firms, especially outside the U.S. Legislative clarity could open the door for new deals, particularly with its stablecoin.

XRP’s Valuation Might Be Stretching Things

Take a breath here.

A $130 billion valuation? That’s a big number for a token still shackled in some ways and with an unclear business model. For comparison’s sake, here’s how XRP stacks up to some well-known payment names:

That table puts things in perspective.

XRP may be a crypto, but it competes for relevance against payment networks — not just coins. And the other players don’t have legal battles or injunctions to explain away.

Investor Expectations Might Be Running Ahead of Reality

Some XRP fans expected a rocket launch the moment the legal issues vanished.

Didn’t happen.

The muted price action hints that the market already accounted for this outcome. That leaves Ripple needing actual growth — not just the absence of legal pain — to fuel further upside.

In short, legal drama fading out isn’t the same as progress.