Ripple has announced it will drop its appeal in the ongoing legal battle with the U.S. Securities and Exchange Commission (SEC) regarding XRP sales, effectively concluding the case. This decision comes after U.S. District Judge Analisa Torres allowed Ripple to reduce a penalty related to illegal XRP sales significantly—from an initial $2 billion sought by the SEC to $50 million. Ripple's CEO, Brad Garlinghouse, stated that both Ripple and the SEC are expected to put an end to their appeals, which marks a decisive closure to the matter. Garlinghouse emphasized that the company will now focus on its primary objective: building the internet of value. This resolution is seen as a pivotal moment for Ripple amid its efforts to reshape its regulatory and business landscape within the crypto space.

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