It used to be beautiful—once a week, an XRP case would conclude, only to stir up again. Then other altcoins like EOS and XLM would rise...
Still, I asked: What’s the current status?
“The XRP case has officially ended. However, there’s an important detail: Ripple did not win the case in every aspect. The main lawsuit between the SEC and Ripple concluded on August 7, 2025, when both parties mutually withdrew their appeals. As of October 2026, this remains the current status.
1. Exchange-based XRP Sales
In its July 2023 ruling, the court determined that Ripple’s programmatic sales of XRP on exchanges did not constitute offerings of securities under the examined conditions. This was one of the most significant victories for XRP in the case.
2. Institutional Sales
The court ruled that Ripple’s contractual sales to specific institutional investors constituted unregistered securities offerings. This finding remains in effect.
3. $125 Million Penalty
The court’s order imposing a penalty of $125,035,150 on Ripple for violating securities registration requirements remains enforceable. Both parties’ attempts to reduce the penalty to $50 million were unsuccessful.
4. Appeal Process Concluded
On August 7, 2025, both the SEC and Ripple jointly withdrew their appeals and cross-appeals. As a result, no further appeal proceedings are pending in this main case.
So what does this mean for XRP?
My assessment: One of the largest legal uncertainties surrounding XRP has been resolved—but this ruling is not a definitive, nationwide determination that XRP is never a security. Since the appeals were withdrawn on procedural grounds rather than substantive ones, the scope of the 2023 ruling remains significant.
Positive takeaway: There is now a strong legal foundation for XRP trading on U.S. exchanges.
Limitation: The rulings regarding institutional sales and the penalty remain in force.
Market perspective: While reduced legal uncertainty is a positive development, it alone does not determine XRP’s price. Bitcoin’s direction, liquidity, ETF flows, and broader market conditions also play critical roles.
