Ripple announces withdrawal of cross-appeal against SEC, potentially ending years-long legal dispute.

[Bitu] Ripple CEO Brad Garlinghouse announced today on social media that the company will withdraw its cross-appeal against the SEC and expects the SEC to also withdraw its appeal as previously stated. Garlinghouse indicated that this move signals an end to the years-long legal dispute between the two parties, allowing the company to focus on "building the value internet."

Previously, Ripple's Chief Legal Officer Stuart Alderoty stated in a post on June 26 that the court had given Ripple two options: either to dismiss their appeal against the historic institutional sale ruling or to continue pursuing the appeal. He emphasized at the time that regardless of which path is chosen, the legal status of XRP as a non-security remains unchanged. Ripple's withdrawal of the cross-appeal, combined with the SEC's previous statements, indicates that the highly anticipated lawsuit between Ripple and the SEC is likely to come to an end.