SEC and Ripple terminate appeal process, XRP non securities ruling finally takes effect

According to Golden Finance, the US Securities and Exchange Commission (SEC) and Ripple have reached an agreement to jointly withdraw their appeal in the Second Circuit Court, marking the official end of one of the most closely watched legal disputes in the cryptocurrency industry. According to the withdrawal documents, both parties will bear their own litigation costs. The ruling made by Judge Anastasia Torres in 2023 will become the final verdict: XRP's trading in the secondary market does not constitute securities behavior, but large-scale sales to institutional investors constitute illegal securities issuance. After the announcement, XRP prices rose by over 7%, from $3.04 to $3.27. Brad Garlinghouse, CEO of Ripple, said that the company would focus on building the "value Internet" and thoroughly turn the page.