Ripple is celebrating a significant win as the U.S. Securities and Exchange Commission (SEC) decided not to pursue an appeal against the crypto firm. While the decision signals a major triumph for Ripple and XRP, the broader crypto industry remains in legal limbo, with regulatory clarity still lacking.
Ripple Declares Victory, But Questions Remain
Ripple CEO Brad Garlinghouse announced the news at the Digital Asset Summit in New York on March 19, calling the SEC’s retreat a moment of “certainty” for the company. However, he acknowledged that there are unresolved matters between Ripple and the financial regulator. “We are now in the driver’s seat to determine how we want to proceed,” he stated.
Stuart Alderoty, Ripple’s Chief Legal Officer, emphasized that the outcome strengthens the company’s standing, noting, “Today, Ripple moves forward — stronger than ever.” The crypto industry has widely viewed the SEC’s decision as an acknowledgment of its overreach under former chair Gary Gensler.
Today, Ripple moves forward—stronger than ever. This landmark case set a precedent for the domestic crypto industry.
— Stuart Alderoty (@s_alderoty) March 19, 2025
With the SEC dropping its appeal, Ripple is now in the driver's seat and we’ll evaluate how best to pursue our cross appeal. Regardless, today is a day to… https://t.co/NLgmiRrcjx
Legal and Market Reactions to the SEC’s Decision
Following the announcement, XRP saw a sharp 9% price surge within the first hour. The decision has been hailed as a step toward regulatory clarity, but legal experts caution against overinterpreting its impact. Lawyer Aaron Brogan told Cointelegraph that the ruling “creates no precedent that any other firm can rely on.” Similarly, Brian Grace, general counsel at Metaplex, underscored that the case was specific to Ripple and does not bind future legal interpretations.
Reminder that the Ripple decision is not binding legal precedent. It was a single district court judge's ruling based on the facts of that case.
— Brian Grace (@bgrace805) March 19, 2025
See Judge Rakoff's decision in the Terra/Luna case in the same district (SDNY) who explicitly said he was not following it. https://t.co/8d2IjXc8Di
Despite the SEC stepping back, legislative efforts remain crucial. Experts argue that real regulatory certainty will only come through Congressional action. Brogan highlighted that while the market structure legislation is currently stalled, Congress may still push forward new crypto regulations.
What’s Next for Ripple?
While the SEC’s appeal withdrawal settles the question of XRP’s security status, Ripple’s legal fight may not be over. Garlinghouse hinted at a possible counter-appeal to reclaim the $125 million fine imposed by Judge Analisa Torres for institutional XRP sales. Moreover, Ripple remains under a five-year “bad actor” fundraising restriction, which could affect its business operations.
As Congress continues to deliberate on stablecoin legislation and the broader crypto framework bill, industry stakeholders are pushing for regulatory certainty. The Blockchain Association anticipates that new laws could pass by August, bringing long-awaited clarity to the digital asset sector.
Also Read: Ripple vs. SEC: Settlement Nears—Will XRP’s Price Surge Again?
For now, Ripple’s victory is a symbolic win, but the fight for definitive crypto regulation is far from over.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of CoinBrief.io. Before making any investment decisions, you should always conduct your own research. Coin Brief is not responsible for any financial losses.
