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Ripple to Drop Appeal in SEC Case Over XRP Sales, Ending Case 'Once and for All'
Ripple says it'll drop its appeal in the long-running SEC case over XRP sales, finally putting the legal battle to bed.

Ripple CEO Brad Garlinghouse said on Friday that the fintech will drop its cross appeal in a long-running case with the U.S. Securities and Exchange Commission.

The announcement comes just a day after U.S. District Judge Analisa Torres denied a proposal from Ripple Labs and the SEC to cut a $125 million penalty or toss out an injunction imposed against the XRP-linked firm last year.

That decision followed less than two weeks after the SEC and Ripple requested that the court lower a civil penalty over illegal XRP sales to $50 million—far less than the $2 billion sought under former Chair Gary Gensler—and remove restrictions on Ripple’s ability to sell the asset.