In what was a monumental moment that many had hoped for this year, the US Securities and Exchange Commission (SEC) has officially dropped its lawsuit against Ripple (XRP). Indeed, the company’s CEO, Brad Garlinghouse, took to X (formerly Twitter) to break the news that the agency will officially drop its appeal.

Garlinghouse called the move “a resounding victory for Ripple, for crypto, every way you look at it.” Moreover, the move was one in a string of similar actions taken by the revamped agency this year. The arrival of 2025 has come with a completely overhauled cryptocurrency policy embraced by the returning Trump administration.

Also Read: What Will XRPs Price Be If SEC Dismissed Ripple Lawsuit This Month?

SEC Officially Drops Ripple Appeal Amid Ongoing Crypto Push

In late 2024, Donald Trump was elected to return to the Oval Office as President of the United States. That decision was always poised to have massive ramifications in store for the digital asset industry. In late February and early March of this year, those began to take effect with the SEC. Not only did the agency launch its own crypto task force, but it also ended a host of lawsuits against platforms like Kraken and Coinibase.

Now, that shift in policy has extended to one of the most high-profile lawsuits the agency has been engaged in for the last several years. Indeed, the SEC has officially dropped its appeal to the ongoing Ripple (XRP) lawsuit Wednesday. The development is a major win for the company, but an even bigger moment for the cryptocurrency industry.

Ripple XRP vs SEC
Source: Watcher Guru

Also Read: SEC Drops Coinbase Lawsuit

The lawsuit was originally filed four years ago, under the previous Gary Gensler-led SEC. Ripple CEO Brad Garlinghouse called the lawsuit “doomed from the start” in a statement following the dropped appeal.

“In many ways, it was the first major shot fired in the war on crypto,” Garlinghouse added. “I truly felt that I knew then that Ripple was not only on the right side of the law, but I felt that we were also going to be proven to be on the right side of history.”

The landmark decision has proven Garlinghouse and the company right in the end. The news has already propelled the XRP cryptocurrency. Over the last 24 hours, the token has jumped more than 12%, according to CoinMarketCap.

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