BREAKING Ripple News: SEC Will Drop Legal Case, XRP Price Reacts

After more than four years of a prolonged legal battle, the US Securities and Exchange Commission has decided to drop the case against Ripple.

Expectedly, XRP’s price reacted immediately by jumping from $2.3 toward $2.6.

It almost felt inevitable after the numerous closed cases by the SEC in recent weeks. Recall that the US securities regulator dropped its cases against crypto companies like Coinbase, Binance US, Kraken, Consensys, and many others.

However, the Ripple case seemed more complex due to its longer history and several judge rulings over the years.

Nevertheless, the long-anticipated resolution has finally arrived, as Ripple CEO Brad Garlinghouse announced on X minutes ago.

The exec said his company never wanted this legal tussle but knew that it had to win for itself and for the entire cryptocurrency market.

“I’m finally able to announce that this case has ended. It’s over.”

Garlinghouse further reflected on the four-year-long history between the two entities that saw numerous reversals. However, Donald Trump’s landslide victory in the 2024 US presidential elections brought a much-needed change in the crypto industry.

He had changed his approach during his second term and even promised to fire former SEC Chair Gary Gensler on his first day in office. The subsequent changes in the agency’s leadership led to speculation that the Ripple case will be dropped as well.

XRP’s price went on a volatile rollercoaster after the news broke, skyrocketing from just over $2.3 to almost $2.6. However, it has lost some steam since then and now sits beneath $2.5.