Ripple ends cross-appeal as U.S. SEC expected to drop its case

Ripple CEO Brad Garlinghouse said on X that the company behind the XRP token is ending its cross-appeal in the ongoing legal dispute with the U.S. Securities and Exchange Commission (SEC). He noted that the SEC is also expected to withdraw its appeal, as previously indicated by the agency. Earlier this year, the SEC proposed lowering the financial penalty to $50 million and requested the removal of the injunction on Ripple's institutional XRP sales as part of a proposed settlement. However, the court rejected the joint effort to conclude the case.