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Ripple’s decision to abandon its cross-appeal came after U.S. District Judge Analisa Torres denied a joint motion from Ripple and the SEC earlier that week, marking her second dismissal related to the appeal
The U.S. Securities and Exchange Commission (SEC) is expected to drop its appeal challenging the 2023 ruling that XRP is not a security in programmatic and secondary market sales, following Ripple’s decision to withdraw its own cross-appeal on institutional sales
Ripple officially announced that it would drop its cross-appeal in its long-running legal battle with the U.S. Securities and Exchange Commission (SEC), effectively ending its challenge to the court's decision on institutional XRP sales
The Securities and Exchange Commission (SEC) sued Ripple in December 2020, alleging that Ripple conducted an unregistered securities offering by selling XRP tokens to institutional investors, and initially sought a $2 billion fine against Ripple under former SEC Chair Gary Gensler

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