SEC vs Ripple case: the full story and what it means now that it was closed in 2025

Crypto

8.8.2025 10:46 AM

SEC vs Ripple case

After almost quinquennium of lawsuits and headlines, the legal battle between Ripple Labs And the SEC came to an end: both sides withdrew their appeals and the court dismissed the litigation Reuters. Next, we review the background, the key twists and why this shutdown changes the landscape for XRP and the rest of the crypto market.

Concepto Explicación con palabras muy sencillas
¿Quién demanda a quién? La SEC (policía de la bolsa en EE. UU.) demandó a Ripple, la empresa detrás de la criptomoneda XRP.
¿Por qué? Decían que XRP era como una acción (un “valor”) y Ripple la vendió sin permiso oficial.
¿Cuándo empezó todo? Diciembre de 2020.
¿Qué pasó en 2023? Una jueza dijo: “XRP no es acción cuando la gente común la compra en exchanges; sí lo es cuando Ripple la vende directo a grandes inversionistas”. Media victoria para cada lado.
¿Por qué siguió la pelea? La SEC y Ripple apelaron (pidieron que un tribunal superior cambiara la decisión).
¿Qué noticia salió ahora (2025)? Ambos retiraron sus apelaciones. El tribunal aceptó y cerró el caso. No más juicios.
¿Qué significa eso para ti? - Fin de la “nube legal” sobre XRP.
- Fondos grandes, bancos y (posiblemente) futuros ETF de altcoins ya no temen comprar XRP.
- El precio suele subir porque el activo se ve más seguro.
¿Ripple pagó algo? Sí, un acuerdo monetario con la SEC (tipo multa) pero sin admitir culpa total.
¿Puede volver a pasar? Siempre puede haber nuevas leyes, pero este pleito específico terminó.

Essential chronology

Año/mes Hecho clave ¿Por qué fue importante?
Dic 2020 La SEC demanda a Ripple por vender XRP como “valor” no registrado. XRP se desploma 65 % en una semana.
Jul 2023 Jueza Torres dicta que, cuando se vende en exchanges, XRP no es valor; en ventas institucionales sí lo es. Primer “medio triunfo” para Ripple; crea criterio mixto.
Mar 2025 La SEC anuncia que retira su apelación. Señal de que no buscará revertir el fallo parcial (Axios).
Jun 2025 Ripple retira su cross-appeal buscando anular la parte desfavorable (ventas institucionales). Avance hacia un acuerdo final (Reuters).
Ago 2025 Corte de Apelaciones acepta la retirada de ambas partes → caso cerrado. Fin del pleito legal que duró casi 5 años (Coin Edition).

What exactly were they arguing about?

  • The SEC thesis
    • XRP was a “security” (financial value) when Ripple was selling it.
    • Ripple needed to register and disclose information like any company that issues shares.
  • Ripple's defense
    • XRP is a Token that works without the company.
    • Selling it on open exchanges is like trading currencies or commodities.

El Fault 2023 divided the issue:

  • Retail trading: sales on exchanges ≠ value → legal.
  • Direct sales to institutional investors: Yes they broke the law.
  • That nuance ended up being accepted by both sides when they withdrew their appeals.

Fine and final conditions

Ripple agreed to pay a penalty (figures between 100—125 M USD according to drafts) and to keep transparency reports for sales to future professional clients Reuters.

Impacto Qué significa en la práctica
Más claridad regulatoria Otras altcoins ganan argumento para defender que “no son valores” si se negocian en exchanges abiertos.
Puerta abierta a ETF de altcoins Fondos que antes temían listar XRP podrían incluirlo en cestas institucionales.
Mayor liquidez Exchanges de EE. UU. que habían suspendido XRP lo relistan; sube el volumen global.
Volatilidad a corto plazo Traders celebran con picos de +20 % pero ballenas venden parte de sus tenencias (posibles correcciones).

Key lessons for the ecosystem

  1. Legal precedent: a token may or may not be “security” depending on the form of sale, not only because of its existence.
  2. Crypto lobbies: pressure from companies, users and congressmen influenced to avoid an endless trial.
  3. SEC Strategy: it will focus on cases with clearly centralized offers without records, rather than ambiguous battles.

And now what?

  • Ripple Roadmap
    • Boost your stablecoin RLUSD after buying the Rail platform Coin Edition.
    • Expand “On-Demand Liquidity” (ODL) in Asia and LATAM with banks that were waiting for the outcome.
  • For XRP
    • Critical Technical Levels:
      • Resistance 0.92 USD
      • Support 0.72 USD
    • Catalysts: multi-altcoin ETF announcements and new payment integrations.

Conclusion

Closing the case Eliminate the biggest regulatory shadow about XRP and sends a positive signal to the entire crypto market:

  • Authorities can reach compromises,
  • Projects with real use cases survive uncertainty.

The inherent risk of price and technological competition remains, but At least the legal sword has been sheathed.

CTA

Do you want to trade XRP with low fees and automatic price alerts? Open your account at Hapi‍ and participate in the new phase of the market with complete confidence.

Search

Categories

StocksCryptoAsset categoriesReferralsBlog
SupportLog inCreate accountLearning

Check Hapi's record on FINRA’s BrokerCheck.

iOS

Android

© 2025 Hapi Corp. All Rights Reserved.

Member ofFINRA and SIPC

en

All investments involve risk, including the loss of capital. Hapi offers self-directed investment accounts for those investors who feel comfortable managing their own investments. For a full list of our disclosures, please visit our disclosures pages. Certain fees may apply to certain products, operations, and investments, please refer to our full fee schedule.

Brokerage Services are offered through Hapi Securities, LLC, a U.S. Securities and Exchange Commission (SEC) registered broker-dealer, and member of the Financial Industry Regulatory Authority (“FINRA”) (CRD number 311868) and Securities Investor Protection Corporation (“SIPC”), which protects securities of its members’ customers for up to US$ 500,000 (including US$ 250,000 in cash). For additional information visit SIPC. Please note, SIPC covers the return of your securities should Hapi become insolvent, not against the decline of your securities. Click here for Hapi Securities’ Form CRS, which describes Hapi Securities’ products and services. Clearing services are provided through Apex Clearing Corporation, a registered broker-dealer and member SIPC, which has additional insurance coverage in excess of the regular SIPC limits.  Hapi Securities, LLC is a wholly owned subsidiary of Hapi Corp. and does not provide investment, tax, or legal advice.  Brokerage services are not intended for persons of any jurisdiction where Hapi Securities, LLC is not authorized to do business or where such products and other services are offered would be contrary to the securities regulations of that jurisdiction.

Hapi Corp., its subsidiaries and its related parties (“Hapi”), are companies incorporated and operated in the United States of America. It is the client's responsibility to ascertain the legal requirements that the current legal framework applicable in its country of residence establishes about the services provided by Hapi, as well as to ascertain whether the current legal framework applicable in its country of residence allows using the services provided by Hapi. Hapi is not licensed to provide brokerage services outside of the US (Spain, the EU or other countries), therefore investments are not protected by the European Union or other countries’ regulations (e.g., MiFID II). Brokerage services at Hapi are provided in accordance with US laws and regulations. When you open a Hapi account it is under your own initiative, all content and information on this website is for informational and educational purposes only and does not imply a recommendation or solicitation to engage in any specific investment strategy.

Cryptocurrency services are offered through an account with Hapi Crypto, LLC and Bakkt Crypto solutions, LLC. (“Bakkt”).  Transactions and custody services are provided by Bakkt. Bakkt has a BitLicense through the New York State Department of Financial Services (“NYDFS” or “DFS”) and is registered with FinCen as a money services business.  Cryptocurrency held through Hapi Crypto and Bakkt is not FDIC insure or SIPC protected. Bakkt Crypto is not a registered broker-dealer or FINRA member. Please make sure you fully understand the risk involved before trading cryptos.