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06/28 14:38

Breaking: Ripple Drops Cross Appeal Against SEC,

Breaking: Ripple Drops Cross Appeal Against SEC, Ending XRP Lawsuit

XRP Lawsuit To End As Ripple And SEC Drop Appeals
In an X post, Brad Garlinghouse announced that Ripple is dropping its cross-appeal against the SEC and that the Commission will do the same by dropping its appeal against the crypto firm.

He further remarked that they are closing this chapter once and for all and focusing on what is important, which is building the Internet of Value. This comes just a day after Judge Torres denied the joint motion for an indicative ruling in the XRP lawsuit.

Judge Torres had told both parties that they had the option of ending the litigation by simply dropping their appeals. Both parties have now chosen to take this route instead of pushing forward with their respective appeals.

As CoinGape reported, legal expert Fred Rispoli had predicted that Ripple and the SEC would drop their appeals instead of challenging Judge Torres’ ruling on the injunction in the appeals court. With this move, the injunction would remain in place.

However, both parties have already agreed that Ripple should pay $50 million as against the $125 million penalty that Judge Torres ordered in her final judgment in the XRP lawsuit. This decision would finally put an end to the legal battle that began in December 2020.
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