The U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have jointly issued landmark guidance, formally classifying XRP as a digital commodity. This move, detailed in the SEC's Interpretive Release No. 33-11412 on March 17, 2026, marks a crucial turning point for the asset, which had been entangled in regulatory uncertainty since the SEC's lawsuit against Ripple Labs in December 2020.
The new token taxonomy explicitly names XRP alongside Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Cardano (ADA), Dogecoin (DOGE), Chainlink (LINK), Avalanche (AVAX), and over a dozen other tokens as assets falling under commodity oversight rather than securities law. SEC Chairman Paul S. Atkins stated, "This is what regulatory agencies are supposed to do: draw clear lines in clear terms." The CFTC affirmed it would administer the Commodity Exchange Act consistently with this new framework.
The regulatory clarity has had an immediate impact on XRP's market performance. The token has been climbing from price levels last seen in 2021, with analyst Ali Martinez highlighting a "strong buying opportunity" as XRP ascends from multi-year lows. The price peaked at $1.60 on Wednesday, March 20, representing a roughly 14% surge before a partial correction. At the time of reporting, XRP was trading around $1.45.
Ripple's chief legal officer, Stuart Alderoty, commented on the announcement, noting the Ripple team had never doubted XRP's status as a non-security. The classification is seen as removing the core legal overhang that previously led to exchange delistings and institutional avoidance, potentially paving the way for ETF applications, derivatives products, and broader re-listings.
Legal observers, including law firm Norton Rose Fulbright, view the joint agency action as signaling a more coordinated and rules-based approach to digital asset oversight, a departure from the enforcement-first posture of prior years. However, the agencies noted this interpretive release serves as a bridge to eventual congressional action on broader market-structure legislation.
