XRP price rallies after Ripple CEO says cross appeal dropped, chapter done
XRP rallied after Ripple CEO Brad Garlinghouse announced the company is dropping its cross-appeal against the U.S. Securities and Exchange Commission, signaling a definitive end to one of crypto’s most high-profile legal battles.
With the SEC expected to withdraw its own appeal, the move clears the path for XRP’s full return to institutional adoption and major exchange listings.
“Ripple is dropping our cross appeal, and the SEC is expected to drop their appeal, as they’ve previously said,” Garlinghouse posted on X. “We’re closing this chapter once and for all, and focusing on what’s most important – building the Internet of Value.”
Legal certainty drives XRP price action
Crypto lawyer John E Deaton responded to the announcement by noting the immediate market impact. “And then it ended,” Deaton wrote, referring to the conclusion of the legal proceedings that have overshadowed XRP trading since 2020.
XRP (XRP) had traded as low as $2.07 in the 24-hour period before the announcement, making the rally to $2.20 particularly notable for traders who had positioned for legal clarity.
Popular XRP advocate CrediBULL Crypto expressed optimism about the development, responding, “Lock in. It’s gonna be a fun ride :)” to Garlinghouse’s announcement. However, the analyst faced accusations of paid promotion from skeptical users.
CrediBULL Crypto defended his position by highlighting XRP’s established market position. “A coin that has been in the Top 3 for years and is also one of the first 3 crypto coins ever created doesn’t need to pay influencers to shill it,” he responded to critics.
The analyst contrasted XRP’s legitimacy with the meme coin sector, noting he has received “500+ offers to shill memes for money” but chooses to focus on established cryptocurrencies instead.”
The end of appeals removes the final source of regulatory uncertainty that has affected XRP’s institutional adoption and exchange listings. Several major exchanges had delisted or restricted XRP trading during the period of litigation.
At last check Saturday, Ripple was trading at around $2.20. See below.
XRP rallied back in April after Ripple agreed to a $50 million settlement with the SEC, concluding a years-long lawsuit over unregistered securities sales. The case, filed in 2020, saw a partial court win for Ripple in 2023, and the company is now reclaiming most of the $125 million it had set aside for penalties.
Garlinghouse credited the shift in U.S. political leadership, as the Trump administration’s SEC dropped several crypto-related lawsuits (i.e., Coinbase, Gemini, Uniswap) following industry donations, including millions from Ripple.
Critics call it crypto cronyism, while supporters view it as a move toward clearer regulation. With legal uncertainty behind it, Ripple is ramping up growth—acquiring Hidden Road for $1.25 billion and launching a NYDFS-approved stablecoin.
