Ripple, the blockchain-based payments company behind the cryptocurrency XRP, recently celebrated a significant milestone as the U.S. Securities and Exchange Commission (SEC) dropped its legal appeal against the firm, effectively concluding a four-year-long legal battle. On March 19, 2025, Ripple CEO Brad Garlinghouse announced the favorable update, marking an end to the SEC's claims of a $1.3 billion unregistered securities offering made by Ripple.
This legal victory signals a shift for Ripple, opening the door for the company to expand its operations within the U.S. However, industry experts believe that many traders had already anticipated this outcome, leading to a muted reaction in the markets. Dmitrij Radin, founder of Zekret and CTO of Fideum, commented, "Yes, they are dropping the case, but there was already the appeal. One of the most talked about and oldest cases in crypto has been won. It’s great for the market and Ripple as it can start its expansion in the US. But in general, it’s already priced in. I don’t see a big impact on price or the market." Even after an initial 11% increase in XRP's price following the announcement, the cryptocurrency has struggled to maintain momentum, currently floating near $2.39 after briefly spiking to $2.59.
The SEC's ruling has also sparked discussions among cryptocurrency advocates regarding the implications of XRP's classification as a non-security. Max Keiser, a prominent Bitcoin proponent, remains skeptical, asserting that given Ripple controls over 37 billion XRP—worth approximately $88.39 billion—this undermines the cryptocurrency's decentralization. On the topic, Keiser remarked, "And pre-mined ETH & XRP are 100% securities." Some analysts suggest that this lingering debate around XRP's status could potentially limit its growth, coupled with an overall bearish market sentiment.
As of March 21, the SEC's decision officially cleared the path for Ripple, who battles an injunction preventing the company from selling directly to institutional investors such as banks. This limitation emerged from a prior ruling by Judge Analisa Torres in April 2024, which could complicate Ripple's strategic expansion initiatives. John Deaton, a crypto attorney, pointed out the significance of this injunction, which could hinder Ripple's plans to penetrate broader markets.
Yet, despite these limitations, technical analysis suggests a bullish trajectory for XRP in the coming months. Presently, XRP is testing a triangle's lower trendline, with the potential to reach $2.35 by April, and possibly aim for $4.35 by June if it breaks above key resistance levels. If the price dips below the lower trendline, the cryptocurrency could fall as low as $1.28 according to analysts.
Moreover, Ripple's CEO Garlinghouse confirmed in a Bloomberg interview that the company is pivoting its focus from an IPO to strategic acquisitions. This shift aligns with the company’s goal to fortify its market standing in the aftermath of its legal victories. "We are now in the driver’s seat to determine how we want to proceed," Garlinghouse stated, emphasizing acquisition plans involving blockchain infrastructure firms that align with Ripple’s mission. He acknowledged that while an IPO remains a future prospect, it is not a priority at this stage.
Ripple has already incurred substantial costs during the legal battle, with over $150 million spent on legal fees and a $125 million fine paid out, which still poses a financial strain. The company anticipates that regulatory clarity, particularly regarding crypto trading platforms, could foster a more favorable environment for XRP-based products, potentially giving rise to an XRP exchange-traded fund (ETF) in the near future.
As a result of Ripple's recent developments, XRP has seen a notable resurgence, climbing nearly 30% over the last two weeks. This recovery comes after an extended decline since February 2025, highlighting the volatility inherent in the cryptocurrency market. Following the announcement of the SEC's withdrawal, XRP rose 7.85% just two days later as traders reacted positively.
Ripple's commitment extends beyond mere expansion plans; the company also aims to strengthen its stablecoin, RLUSD, which launched in late 2023. Garlinghouse suggested RLUSD could enter the ranks of the top five stablecoins by the end of 2025, driven by heavier institutional adoption.
Furthermore, Ripple is exploring partnerships to enhance its international payment solutions. In Portugal, Ripple is implementing systems to facilitate instant transactions between Portugal and Brazil using digital assets. With new partnerships already underway, including collaborations with Revolut and Zero Hash, Ripple seeks to remain competitive against leading stablecoins like USDT and USDC.
Ultimately, the resolution of Ripple's legal disputes provides both challenges and opportunities for the firm. With plans for acquisitions and the potential for an elevated historical status in the eyes of regulators, Ripple stands at a critical juncture in its journey within the cryptocurrency landscape. As many industry watchers maintain a cautious optimism, the impact of Ripple's legal resolution may continue to shape both its future and the broader crypto market for years to come.
