XRP price rises 3% after Ripple drops SEC cross-appeal

From Cointelegraph
June 28, 2025 1:01 am:

XRP price rose over 3% after Ripple Labs CEO Brad Garlinghouse announced dropping the cross-appeal against the SEC. XRP spiked to $2.18 in 5 hours. Garlinghouse stated focus on building the internet of Value. XRP down 4.44% in the last 30 days. US court denied SEC and Ripple’s motion for a reduced penalty.

Ripple’s legal status remains the same, says Ripple lawyer Stuart Alderoty. The court gave two options: dismiss appeal or proceed with it. Either way, XRP’s status as not a security remains. SEC dropping appeal could end the legal battle lasting over four years. SEC filed lawsuit in December 2020.

Garlinghouse claimed the $125 million fine was a victory, as it was a 94% reduction from the initial $2 billion fine proposed by the SEC. XRP’s legal status remains unchanged. The SEC’s main claim was that Ripple raised $1.3 billion by selling XRP as an unregistered security, violating federal laws.

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