Ripple Labs to Withdraw Cross Appeal Against SEC in XRP Lawsuit
On Friday, June 27, 2025, Reuters reported that Ripple Labs has decided to withdraw its cross-appeal against the U.S. Securities and Exchange Commission (SEC) in an ongoing legal dispute concerning the sale of its XRP tokens.
Ripple’s CEO, Brad Garlinghouse, announced this development in a statement on social media, indicating that the company is ready to move forward. He also mentioned that the SEC is anticipated to drop its appeal as well.
This decision follows a lengthy legal battle regarding the classification of XRP as a security. In a 2023 ruling, a judge determined that while XRP sales on public exchanges were lawful, $728 million in sales to institutional investors violated securities regulations.
Following that ruling, both Ripple and the SEC filed appeals but later reached a preliminary agreement contingent on the judge lifting an injunction and reducing a $125 million fine imposed on Ripple. However, the judge denied this request the day before Garlinghouse’s announcement.
This development signals a potential movement towards resolving the years-long conflict between Ripple and the regulatory body over the cryptocurrency’s legal status.
Source: Reuters
