XRP says after the CEO of Ripple Garlinghouse said that SEC is a lawsuit against the company.

Xrp Brad Garlinghyus, CEO of Ripple, said that the US Securities and Stock Exchange Committee no longer continues its appeal in the case against the payments company.

The price of XRP was approximately 11 % higher at $ 2.52.

“About four years have passed and about three months since SEC was originally lifted, and it is definitely a painful journey in several ways,” Garlinghyus said at the New York digital asset summit on Wednesday morning. “I strongly believed that we will be on the right side of the law and on the right side of history.”

“The system is broken. We had to fight this battle for the industry and you had the Securities and Stock Exchange attacking industry, especially the state of ripples,” he said. “There were no victims, there was no loss for the investor. They were not acting in good faith.”

In 2020, the Supreme Education Council Tamul prosecution To violate the laws of US stock by selling XRP without registering them first with the agency. The company registered a Partial victory in 2023 When the American boycott judge, Angisa Torres, issued the decision that was It was welcomed as a prominent victory for the encryption industry. However, although XRP at that point was not considered safety when selling to retail investors on stock exchanges, it was considered an unregistered security offer if sold to institutional investors.

The development comes at a time when the Supreme Education Council moves quickly to reflect many damages to the encryption industry left by the previous administration. Last month, the agency ended its enforcement issue Against coinbase; Her investigations were closed In the coding unit in RobinhoodUNISWAP, Gemini and Consnsys with no enforcement procedure; Recover the enforcement unit of its encryption; This is explained Mimi currencies are not securities.

This week, the newly formed SEC Crypto Business Squad will launch a round table that focuses on determining the security situation of digital assets.

XRP was created by Ripple founders in 2012. It is the original XRP Open Source index, which uses Ripple in the across border payments, about 95 % of them It happens outside the United States Ripple is the largest XRP currency holder.

It was the currency The largest beneficiary of Trump’s trade after the elections. More than 390 % has increased since then and an increase of 20 % this year.