Ripple has finally decided to bring its long-running legal fight with the U.S. Securities and Exchange Commission to a close.
Ripple to Withdraw Its Appeal, Essentially Closing the Case
On June 27, Ripple CEO Brad Garlinghouse confirmed that the company would withdraw its cross-appeal in the lawsuit, accepting a $125 million civil penalty and moving on without further litigation. Notably, the SEC is expected to do the same, marking the official end of a legal standoff that has lasted over four years.
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
This decision came just a day after Judge Analisa Torres rejected a joint request from Ripple and the SEC. The two parties had asked the court to lower Ripple’s fine to $50 million and lift the permanent ban on its institutional XRP sales.
Judge Torres refused, stating they hadn’t shown a good enough reason to alter the original judgment. She gave both sides a clear option: move forward with appeals or end the case. Ripple chose instead to end the case with the final ruling.
How High Could XRP Go?
Currently, XRP changes hands at $2.18, up 1.85% this morning. Following the announcement, we asked Gemini, Google’s AI model, how far XRP’s price might rise over the next year now that the legal battle is coming to an end.
In response, Gemini explained that the end of this legal overhang could act as a strong catalyst for XRP’s growth. Based on past reactions to favorable news, such as the 70% price jump after the partial court win in 2023, Gemini suggested XRP could rally to around $3.00 to $3.50 within weeks or months of the official case closure.
Looking further, Gemini highlighted a growth path. Amid the legal clarity, Ripple could push its expansion across the U.S. market. Notably, more financial institutions might partner with Ripple now that the legal risk has eased.
Moreover, the chances of a spot XRP ETF entering the U.S. market have increased. In addition to this, Gemini pointed to stronger developer interest in the XRP Ledger as a factor that could add long-term utility and support for XRP’s value.
In this scenario, Gemini set a price range between $5 and $8 for XRP over the next year. Specifically, it says a $5 outcome would reflect steady progress, while $8 would suggest aggressive growth fueled by major developments like ETF approvals, strong adoption, and a broader crypto bull market.
Background of the 4-Year Ripple v. SEC Lawsuit
For context, the SEC first sued Ripple in December 2020, accusing it of raising $1.3 billion through unregistered sales of XRP. Ripple pushed back, arguing that XRP is a digital asset, not a security.
In July 2023, Judge Torres ruled that XRP isn’t a security in and of itself, but she also found Ripple guilty of securities violations in its institutional sales. That led to a $125 million penalty.
However, in January 2025, the SEC filed an appeal, aiming to reverse parts of the earlier decision, and Ripple also filed a cross-appeal. Then in May, both sides floated a tentative $50 million settlement following new SEC leadership. Nonetheless, most recently, the judge rejected their request and left the original penalties in place.
Ripple has now responded by dropping its appeal, and the SEC is expected to follow. It bears mentioning that the court’s decision that XRP is not a security in the open market remains unchanged, and both sides appear ready to move forward with the $125 million penalty and the permanent injunction on Ripple.
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