The U.S. Securities and Exchange Commission (SEC) submitted a filing to the U.S. Court of Appeals for the Second Circuit on Aug. 15, 2025, informing the court that it had entered into a joint stipulation of dismissal with Ripple Labs, effectively ending the appeals process in their high-profile legal dispute. The case also involved individual Ripple executives Brad Garlinghouse and Chris Larsen. The move brings significant closure to a multi-year legal battle that has shaped the conversation around cryptocurrency regulation in the United States.

Both the SEC and Ripple Labs agreed to drop their respective appeals, with each covering its own legal fees. The court has not yet finalized the dismissal. The SEC’s filing confirmed: “The joint stipulation of dismissal remains pending.” Attorney James K. Filan, a close observer of the case, explained the procedural status on social media platform X:

The SEC has filed a status report with the Court of Appeals, noting that the parties have filed a Joint Stipulation of Dismissal of the appeals and that the stipulation remains pending and therefore awaiting approval by the Court.

The filing marks a significant milestone for Ripple, signaling progress toward regulatory clarity for XRP after years of scrutiny over its legal classification. The development has fueled optimism among XRP holders and the broader crypto community. Supporters argue it strengthens Ripple’s position in the digital asset sector and paves the way for broader use of XRP in cross-border payments and institutional applications.

XRP has gained growing interest among institutions, with an increasing number of corporations establishing XRP strategic reserves and the potential approval of XRP exchange-traded funds (ETFs). With major legal obstacles largely behind it, Ripple is expected to accelerate expansion efforts, and many anticipate stronger XRP market performance driven by renewed investor confidence and clearer regulation.

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