XRP Wins! 🎉 But at What Cost?

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Ah, the saga of Ripple and the SEC! A legal skirmish so protracted, so filled with legal pronouncements and indignant pronouncements, it could rival the chronicles of Ivan Ilyich in its sheer exhausting length. A courtroom drama amongst the cryptographers, you might say, though less eloquently, naturally. After what felt like an eternity – five years, to be precise, five years of lawyers billing by the hour! – the Americans have finally declared a sort of cease-fire.

On August 22nd, a date which surely will be etched in the annals of digital finance… or at least on Twitter, the Second Circuit Court, with a sigh that could be heard all the way to Wall Street, dismissed the remaining appeals. What does this mean, you ask? Well, it means that buying and selling XRP on those bustling exchanges, those electronic bazaars of modern finance, isn’t necessarily selling securities. A truly shocking revelation! 😲

Ripple Pays a Pittance (Relatively) for Peace

Ripple, bless their entrepreneurial spirit, reportedly spent a king’s ransom – over $100 million! – fighting this battle. As one might expect with the current regulatory climate, which, let me tell you, is about as friendly to crypto as a wolf is to a lamb, all thanks to those esteemed figures like Mr. Gensler and the Biden administration. A most unpleasant affair.

It all began, you recall, back in December 2020, when the SEC accused Ripple of conjuring $1.3 billion out of thin air with unregistered XRP offerings. A scandalous accusation, to be sure! But then, in July 2023, a glimmer of hope appeared in the form of Judge Torres, who declared retail sales of XRP lawful – though, naturally, institutional sales were still deemed suspect. One step forward, two steps back, the dance of bureaucracy, you see.

#XRPCommunity #SECGov v. #Ripple #XRP The Second Circuit has approved the Joint Stipulation of Dismissal.

– James K. Filan (@FilanLaw) August 22, 2025

Both sides, predictably, appealed. Prolonging the agony, naturally. One cannot simply *resolve* a dispute quickly, can one? But then… a change in the wind! The return of a certain notable gentleman and, lo and behold, a more amenable SEC. Settlement talks ensued, slowly, agonizingly. A tentative deal with a $50 million penalty was presented, then rudely rejected by Judge Torres. The humanity!

Finally, in early August, both parties decided enough was enough and jointly requested dismissal. The Second Circuit, with a weary nod, endorsed the proposal, tacking on an extra $25 million, just for good measure. A mere trifle, one might say. 😉

And the most crucial thing? Judge Torres’s pronouncement – that “XRP itself is not a security” – remains! A monumental victory, or so they claim. Perhaps. One suspects market observers are cautiously optimistic, hoping this precedent will influence future approvals and guidance. Though, let’s not hold our breath, shall we?

A Rush of ETF Filings, Naturally!

The moment the ink dried on the settlement, seven asset managers – Grayscale, Franklin Templeton, Bitwise, CoinShares, WisdomTree, 21Shares, and Canary – scrambled to update their filings for an XRP ETF. A veritable stampede! A flurry of activity, as Mr. Geraci of NovaDius Wealth helpfully observed, as if it weren’t obvious.

The SEC, however, remains stubbornly resistant to approving a spot XRP ETF. Despite offering leverage funds, the agency wants to have its cake and eat it too, it seems. Such is the nature of power. 😒

Mr. Deaton, a pro-crypto lawyer (they exist!), pointed out that October will be a crucial month, filled with ETF application deadlines. Grayscale on the 18th, WisdomTree on the 25th. If the SEC acts with anything resembling expediency, trading could begin within days! Though, of course, they might demand more disclosures, just to keep everyone on their toes.

And so, optimism blooms in the XRP market! The token, reports BeInCrypto, gained a rather modest 4% during the last 24 hours, trading at $3.01. A triumph, to be sure! Though one wonders if this is merely a fleeting moment of euphoria, or the start of something truly… substantial. Only time will tell. But let us not be *too* enthusiastic, eh? History, as we know, is prone to repeating itself, and often with a cruel sense of irony. 😈

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2025-08-23 11:52