The US SEC has officially dropped its XRP lawsuit against Ripple Labs.
XRP price is in rebound mode following the news but with a generally tempered outlook.
American blockchain payments firm Ripple Labs Inc is now free from the damning lawsuit filed against it in December 2020 by the United States Securities and Exchange Commission (SEC). In a video update shared on X by the firm’s CEO, Brad Garlinghouse, he said the case is now officially over. This landmark win has rattled the broader crypto ecosystem as the Ripple versus SEC case is considered the biggest in the industry.
Major Precedent With XRP Lawsuit
As Garlinghouse noted in his X update, the lawsuit against the firm is the first major blow to a crypto player in the industry. He shared a post from August 31, 2021, in which he noted that the SEC’s lawsuit marks a shift in “impossible fair standards of fair notice and due process.”
This is it – the moment we’ve been waiting for. The SEC will drop its appeal – a
