XRP spikes 3% after Garlinghouse says Ripple dropping SEC cross-appeal

XRP spiked on Friday after Ripple CEO Brad Garlinghouse said the company is “closing this chapter once and for all” in its legal battle with the US regulator that began in December 2020.

XRP’s price jumped over 3% on Friday just hours after Ripple Labs CEO Brad Garlinghouse said the company is dropping its cross-appeal against the US Securities and Exchange Commission (SEC) and expects the regulator to do the same.

“Ripple is dropping our cross-appeal, and the SEC is expected to drop their appeal, as they’ve previously said,” Garlinghouse said in an X post on Friday. XRP (XRP), the cryptocurrency associated with Ripple Labs, spiked 3.36% to $2.18 just five hours after the post, according to CoinMarketCap data.

“We’re closing this chapter once and for all and focusing on what’s most important – building the internet of Value. Lock in,” Garlinghouse added.

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