Ripple and SEC withdraw mutual appeals, ending lawsuit

The XRP litigation, which has dragged on for more than four years, has officially come to an end, with the U.S. Securities and Exchange Commission (SEC) and Ripple respectively dropping all appeals and counterclaims.
The decision has major implications for the cryptocurrency industry and XRP investors, which have been plagued by a long period of uncertainty.
The news of the end of the lawsuit came after both parties jointly filed a petition to the court to withdraw the appeal.
The document also includes details of the SEC and Ripple, as well as Ripple executive Brad Garlinghouse.
Garlinghouse, CEO, and co-founder Chris Larsen were also named.
The decision comes after Ripple agreed to drop its cross-appeal last month. The SEC then completed its internal voting process, and both parties
The two companies have finally finalized the proposed agreement. Legal expert James Filan announced through X that "both parties have officially concluded the legal process."
This decision had an immediate impact on the cryptocurrency market. At 8:50 AM on the 8th (Japan time), according to CoinMarketCap, the price of XRP
The price surged 10.89% from the previous day to $3.1379, showing a strong trend. Experts believe that the end of the protracted lawsuit has resolved uncertainty about XRP and improved investment sentiment.
Legal expert Bill Morgan previously predicted that the case would likely be concluded by August 15th, and the results confirm his prediction.
Ripple can now leave the four-year legal battle behind and focus on expanding its business and realigning its market strategy.