Ripple vs. SEC Lawsuit Officially Ends — XRP Spot ETF Approval Odds Surge to 88%
TradingKey – On Friday, August 8, Ripple Labs and the U.S. Securities and Exchange Commission (SEC) officially ended their multi-year legal battle, jointly filing to dismiss appeals in the Second Circuit Court.
The resolution triggered a sharp rally in XRP, which surged over 11% to trade above $3.30, marking its strongest performance in weeks.
XRP Price Chart – Source: TradingView
Legal Closure and Market Impact
The dismissal leaves intact the July 2023 ruling by Judge Analisa Torres, which found that XRP sales on public exchanges did not violate securities laws, while institutional sales did. Ripple will pay a $125 million penalty, far below the SEC’s original $2 billion demand.
Ripple CEO Brad Garlinghouse stated,“We’re closing this chapter once and for all and focusing on what’s most important — building the Internet of Value.”
XRP Spot ETF Momentum Builds
With regulatory uncertainty lifted, the path for an XRP spot ETF is rapidly clearing:
- NovaDius Wealth Management President Nate Geraci said, “BlackRock’s iShares XRP ETF could launch at any moment.”
- Polymarket data shows the probability of SEC approval for an XRP spot ETF has jumped from 70% to 88%
- Japan’s SBI Holdings has already filed to launch a Bitcoin/XRP ETF, signaling global institutional interest
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