Under the settlement terms, XRP will not be classified as a security, representing a major victory for Ripple. Each side will cover its own legal costs, according to the court filing.
Ripple’s Chief Legal Officer Stuart Alderoty previously described the agreement as closing a chapter that has overshadowed the crypto industry for nearly four years.
The outcome places Ripple alongside other crypto firms like Coinbase that have successfully resolved enforcement actions with the SEC. Further, it removes regulatory uncertainty around XRP’s status, keeping the odds of approval of XRP exchange-traded funds (ETFs) high.
Polymarket traders continued to oppose the analysts, taking the odds to 62% in early August after the news that Commissioner Caroline Crenshaw opposed the approval.
“Interesting, trades reporting how Polymarket odds of XRP ETF approval went down to 62% after the votes were disclosed showing Crenshaw voting no, but a) she’s gonna vote no on EVERYTHING and b) it’s meaningless, she’s outnumbered = we haven’t changed our odds, still at 95%.”
