Ripple, SEC Seek Settlement in XRP Case

Ripple Labs and the U.S. Securities and Exchange Commission (SEC) have jointly filed a motion in Manhattan federal court to dissolve the injunction against Ripple and release $125 million held in escrow, aiming to end their nearly five-year legal battle. The proposed settlement would see Ripple pay $50 million to the SEC and recover $75 million, pending court approval. This follows a partial victory for Ripple in 2023 when a judge ruled that programmatic XRP sales were not securities, while institutional sales violated federal law. Both parties cite exceptional circumstances, such as changing SEC enforcement priorities and a mutual desire to avoid further litigation, as reasons for seeking to modify the judgment. Legal experts note that approval would resolve remaining appeals, bring greater regulatory clarity, and could boost institutional adoption of XRP, although some observers remain skeptical about the motion's persuasiveness. The case, which began in 2020 over alleged unregistered XRP sales, is closely watched for its potential impact on the crypto industry.