Ripple’s showdown with the U.S. Securities and Exchange Commission (SEC) is finally over. After four years of legal wrangling, the regulator dropped its lawsuit, ending a high-stakes battle that cost XRP holders an estimated $15 billion, according to CEO Brad Garlinghouse. In a video shared on March 19, 2025, he called this Ripple’s Legal Victory a resounding success not just for Ripple, but for the broader crypto industry.
He also highlighted how the SEC once viewed XRP as a security. Now, the status has changed. Garlinghouse noted that earlier rulings already set the stage by clarifying that XRP isn’t a security. This precedent strengthens Ripple’s position, reinforcing a legal framework for digital assets under nearly a century of U.S. securities law. Meanwhile, the SEC under Acting Chairman Mark Uyeda has withdrawn from more than 10 major crypto enforcement cases, including those against Coinbase, Uniswap Labs, and Kraken.
The End of a Four-Year Battle
The original lawsuit began in late 2020. Under previous SEC Chair Gary Gensler, the agency used the same arguments that it deployed against other crypto projects. Ripple, however, fought back. Garlinghouse claims the SEC’s aggressive approach had more to do with intimidation than investor protection. Now, the agency’s decision to drop the case reflects a significant pivot in how crypto regulation might unfold in the United States.
SEC Reclassification Hints
Before abandoning the lawsuit, SEC officials discussed classifying XRP as a commodity. They pointed to XRP’s utility and trading patterns, comparing it to Ethereum. These conversations suggested a major shift in regulatory philosophy, further supported by the withdrawal of multiple enforcement cases. Though some clarity remains pending, the move away from broad lawsuits signals more constructive dialogues between regulators and industry players.
Ripple’s Response and Future Plans
Garlinghouse regards Ripple’s Legal Victory as the end of what he called a “war on crypto.” He encourages other projects to stand firm against excessive oversight. He believes Ripple’s defense will open the door for new legislation that respects existing securities law while adapting to digital assets. Increased political support, pro-crypto election outcomes, and key policy advocates signal a friendlier environment for blockchain innovation.
Industry Unity and the Path Forward
Calling for unity, Garlinghouse urges crypto communities to move past tribalism. He envisions the U.S. rising to become the world’s “crypto capital,” supported by smarter regulation and wide adoption. He thanked Ripple’s employees, legal team, partners, and the XRP community for their relentless support. With the SEC’s lawsuit officially off the table, XRP soared over 10%, climbing from $2.3 to $2.5 based on CoinGecko data.
Ripple’s story reminds us that regulatory battles can reshape industries. This victory may define how the U.S. treats digital assets from now on. As the dust settles, innovation could flourish under clearer rules, benefiting developers, investors, and the entire crypto ecosystem
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