Brad Garlinghyus, CEO of Ripple recently, recently announced that SEC has recently dropped its appeal against Ripple, which represents the end of a long legal battle that lasted for three years. The Securities and Stock Exchange Authority decided not to follow more legal procedures, which confirms that Ripple is no longer threatened by the organizational body.
This decision had an immediate effect on the price of XRP, which rose after the announcement. The legal epic, which began with the SEC claim that Ripple violated the laws of securities by selling XRP, was a major point of dispute in the coded currency area.
Despite a series of favorable rulings for Ripple, the Supreme Education Council continued to appeal it in January 2024, even after the resignation of the SEC Gary Ginsler’s Speaker. The ongoing legal challenges led to Ripple and its supporters, especially since the court has already ruled in favor of Ripple, declaring that XRP is not safe.
Where is the Supreme Council for official education?
While the legal battle of Ripple with SEC has ended, some are still waiting for the official SEC word itself. The user raised a valid point, and wondering why there is no official statement so far from the Supreme Education Council on dropping the appeal against Ripple.
The Fox Business Eleanor Teret newspaper responded, explaining that the Supreme Education Council still has to formally approve its appeal. Once the committee gives the green light, they could expect a press statement similar to the self -issued earlier this year when SEC rejected a lawsuit against Coinbase.
Not yet because the Commission still has to formally approve the withdrawal.
Once that happens, we’ll likely see a similar press release to the one the @SECGov put out about dismissing the lawsuit against @coinbase a few weeks ago.
The Commission usually deals with matters of… https://t.co/M961xc82BR
— Eleanor Terrett (@EleanorTerrett) March 20, 2025
Teret added that SEC usually addresses litigation and enforcement issues during her closed meetings. We will probably discuss the dismissal of the issue of ripples in one of these meetings, which is scheduled to be held next Thursday.
