Ripple Labs and the U.S. Securities and Exchange Commission (SEC) have filed a joint stipulation to dismiss all appeals in their landmark lawsuit, effectively concluding litigation initiated in December 2020. The dismissal, pending final court approval, confirms the district court's ruling that XRP is not a security—a precedent-setting decision for cryptocurrency regulation.
The resolution includes Ripple's agreement to pay a $125,035,150 civil penalty and comply with an injunction prohibiting future violations of securities registration laws. Following the announcement on August 15, 2025, XRP trading volume surged 208%, signaling renewed market confidence amid regulatory clarity.
SEC Commissioner Hester Peirce welcomed the outcome, stating: "A welcome development... minds once occupied with litigation can concentrate on creating a clear regulatory framework for crypto." Ripple's Chief Legal Officer Stuart Alderoty confirmed the dismissals mark "the end" of the case, allowing both parties to focus on policy development. Industry analysts suggest this outcome may reshape token classification standards and accelerate transparent regulatory frameworks.