XRP jumped 10% on Wednesday during U.S. morning hours as Ripple CEO Brad Garlinghouse said the U.S. Securities and Exchange Commission (SEC) is set to drop its appeal against Ripple, the company closely adjacent to XRP tokens
“This is it – the moment we’ve been waiting for. The SEC will drop its appeal,” Garlinghosue posted on X. “A resounding victory for Ripple, for crypto, every way you look at it.”
Reports last week alleged that the long-standing legal battle between Ripple and the U.S. agency is nearing its end. The SEC’s lawsuit against the crypto company, which Garlinghouse described as the “first major shots fired in the war on crypto,” had resulted in $15 billion in losses for holders of XRP.