TLDR
- SBI Holdings stated that the SEC lawsuit against Ripple began in December 2020 and affected XRP price for years.
- The company reported that XRP price was around USD 0.26 at the time of the lawsuit filing.
- SBI Holdings said the July 2023 court ruling confirmed XRP was not a security for most retail transactions.
- The presentation recorded that XRP price rose to about USD 0.81 after the 2023 ruling.
- SBI Holdings confirmed that the SEC initially sought a USD 125 million penalty from Ripple.
SBI Holdings has outlined in an official presentation the events that it says suppressed the XRP price for years. The June 2, 2025 “Information Meeting” presentation detailed the SEC lawsuit against Ripple and the resulting market effects. It connected key legal developments to shifts in XRP price over five years.
SEC Lawsuit and Initial Price Impact
The presentation stated the SEC sued Ripple in December 2020 for alleged unregistered securities offerings through XRP sales. At that time, the XRP price stood at USD 0.26 (JPY 27), and it fell further after the filing. SBI Holdings noted the lawsuit created “prolonged legal uncertainty” that weighed on market sentiment.
It explained that the legal action discouraged institutional participation while also reducing liquidity in key markets. The document showed XRP price volatility and extended low levels after the initial filing. This period, according to SBI Holdings, marked the start of the asset’s suppressed valuation.
‼️THE PRICE SUPPRESSION OF XRP IS COMING TO AN END‼️
Directly from SBI Holdings.
“The legal dispute between the SEC and Ripple, which has been a barrier to the IPO by suppressing the price of XRP for an extended period, is moving toward resolution.”🔥
Documented.📝😶🌫️ pic.twitter.com/7R5qOiDDFR
— SMQKE (@SMQKEDQG) August 5, 2025
However, legal proceedings progressed over several years with significant developments changing market perception. SBI Holdings tracked these milestones in a detailed timeline. The company said each major decision or announcement had an immediate and measurable impact on XRP price.
XRP Price Rises After Court Decision
On July 13, 2023, a U.S. federal district court ruled XRP was not a security for most retail transactions. The presentation stated that only direct institutional sales qualified as investment contracts under U.S. law. SBI Holdings recorded a sharp market response following this decision.
The XRP rose to approximately USD 0.81 (JPY 112) soon after the ruling. This was the highest level since before the lawsuit. SBI Holdings linked this rise to increased confidence among market participants about XRP’s legal status.
Yet, negotiations with the SEC over penalties continued for nearly two more years. The presentation said uncertainty persisted until a resolution was reached. This ongoing legal process continued to weigh on the XRP price despite partial clarity.
Settlement and IPO Outlook
According to the document, Ripple and the SEC reached a settlement on May 8, 2025, with a USD 50 million penalty. The SEC had initially sought about USD 125 million. SBI Holdings described the reduced penalty as a “significant step” toward removing legal barriers.
Following the settlement announcement, the XRP reached USD 2.31 (JPY 337) on May 8, 2025. According to the presentation’s chart, a similar price was recorded on May 26, 2025. This reflected renewed confidence that Ripple could advance its IPO plans.
SBI Holdings stated the settlement ended a major factor suppressing the XRP price. It said prolonged litigation had constrained growth and delayed strategic initiatives. The company emphasized that market performance closely followed these legal developments.
