Ripple CEO hints at end of legal dispute with SEC: "We will withdraw cross-appeals"

As the US court has once again dismissed the settlement agreement between XRP issuer Ripple and the Securities and Exchange Commission (SEC), Ripple has stated its intention to withdraw cross-appeals.

On the 27th (local time), Brad Garlinghouse, CEO of Ripple, announced on X (formerly Twitter), "(We) will withdraw our cross-appeal in the case with the SEC," adding, "As previously mentioned, the SEC is also expected to withdraw its appeal." He continued, "We will fully close this chapter and focus on building the internet of value, which is most important." This statement comes after the court rejected the Ripple and SEC settlement agreement once again the previous day. Judge Analisa Torres stated, "When the violation of law is clear, the parties do not have the authority to disregard a court’s final judgment by mutual settlement in cases where the court issues a permanent injunction and imposes civil penalties to prevent recurrence," thereby dismissing the joint agreement between Ripple and the SEC. Meanwhile, as of 6:40 am on the 28th (KST), XRP is trading at $2.13 on CoinMarketCap, up 0.87% from the previous day.