Ripple’s long-running legal battle with the U.S. Securities and Exchange Commission (SEC) appears to be over, sending XRP soaring by 10%. The sudden announcement from Ripple CEO Brad Garlinghouse marks a major win for the crypto industry, signalling a shift in regulatory pressure under the new U.S. administration.
Ripple Declares Victory
On Wednesday morning, Garlinghouse posted a video on X, emphatically stating: “It’s over.” The news sent XRP to a high of $2.55, while Bitcoin briefly touched $84,000 before retracing.
Despite the CEO’s claim, the SEC has yet to officially confirm the case dismissal, and court records do not yet reflect the decision. However, this development aligns with the agency’s recent shift in approach toward crypto regulation.
A New Era for Crypto Regulation?
The SEC’s lawsuit against Ripple dates back to December 2020, when the agency accused the company of selling XRP as an unregistered security. A partial victory for Ripple in 2023 led to the SEC appealing in 2024. Now, under the leadership of acting SEC Chair Mark Uyeda, the regulator is scaling back its enforcement actions against major crypto firms.
Since Donald Trump took office in January 2025, the SEC has dropped lawsuits against Coinbase, Binance, Kraken, and Yuga Labs. It has also launched a crypto task force, led by pro-crypto commissioner Hester Peirce, to develop industry-friendly regulations.
Crypto’s Influence in Politics
The crypto industry played a key role in shaping the new regulatory environment. Companies like Gemini and Kraken donated millions to pro-crypto candidates, with total industry spending exceeding $130 million in the 2024 elections.
Under former SEC Chair Gary Gensler, the agency took a hardline stance, treating most cryptocurrencies as unregistered securities. However, the new SEC leadership has pivoted towards collaboration, with Peirce stating:
“Our law is not supposed to be a game of gotcha.”
What’s Next for XRP and Crypto?
With the SEC retreating, Ripple and other crypto firms now have room to expand without looming legal threats. However, questions remain about how new regulations will take shape.
For now, XRP’s 10% surge reflects market optimism, but whether this rally holds depends on how the SEC’s evolving stance plays out in the coming months.
