XRP community celebrates as Brad Garlinghouse says the SEC has agreed to drop its lawsuit against Ripple

The legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) was one of the longest and most talked-about crypto cases in recent years.

The legal dispute between Ripple and the U.S. Securities and Exchange Commission (SEC) has been one of the longest-running and most-discussed crypto cases of recent times.

In April 2024, Ripple CEO Brad Garlinghouse said the SEC had agreed to drop the case — much like it had done with other crypto companies.

However, in contrast to those other cases, the SEC hasn’t officially confirmed that it’s shutting down the Ripple lawsuit. Despite this, many in the XRP community are already celebrating, assuming the case is over.

But, a pro-XRP lawyer has warned that it’s not finished yet. He explained that some legal steps still need to take place in court before it’s truly done.

After Ripple’s Chief Legal Officer, Stuart Alderoty, spoke out, asking why the SEC brought the case in the first place. He said the SEC has now dropped every crypto case in the U.S., including its appeal against Ripple.

Speaking at the Metավix Bank Cryptocurrency Symposium, Alderoty explained that the SEC admitted it couldn’t take legal action without first clearly explaining the rules around crypto. As there were no clear laws for crypto in the U.S., the SEC’s cases didn’t stand up.

Now, Ripple is looking to move forward — concentrating on its business, working with Congress, and aiding in the creation of fair rules for crypto. Their goal is to protect consumers, keep out bad actors, and support innovation in the industry.

In other news, Ripple has announced that it will no longer be publishing its regular quarterly reports on XRP. The company said it made this decision because the SEC used Ripple’s transparency efforts against it during their legal battle.

In its Q1 2025 market report, Ripple explained that it began the reports to be open about its XRP holdings and to share information that few other crypto companies were offering. However, Ripple now says those efforts didn’t work as planned and were actually turned against them — especially by former SEC leaders.