With the development that came last night, the SEC decided to voluntarily drop the charges in the case it filed against Ripple (XRP) founders Brad Garlinghouse and Chris Larsen.
Although this is generally celebrated with enthusiasm on the Ripple front and described as a victory, there are also some details of the incident.
Some lawyers argued that this step was specifically taken by the SEC so that the SEC could appeal the decision in the Ripple case much earlier. In other words, by dropping the case against Ripple founders, the SEC will no longer have to wait until the end of November to appeal.
Eleanor Terrett, a journalist closely interested in the XRP case, also stated in her statement that she had a similar thought and that her sources confirmed this. According to Terrett, sources close to the SEC say that although the charges against Brad Garlinghouse and Chris Larsen have been dropped, the agency will continue litigation in other parts of the XRP case, including classifying all services and sales of the coin as securities.
Following yesterday's development, there was a nearly 7% increase in the XRP altcoin price, and Ripple executives considered this development as “the surrender of the SEC”.
*This is not investment advice.