Recently, the encryption currency industry has reached an important milestone event. The U.S. Securities and Exchange Commission (SEC) and Ripple have reached an agreement to jointly withdraw their appeal in the Second Circuit Court. This decision marks the formal conclusion of one of the most notable legal disputes in the encryption currency field.

According to the withdrawal document, the SEC and Ripple will each bear their respective litigation costs. This means that the ruling made by Judge Analisa Torres in 2023 will become the final judgment: the trading of XRP in the secondary market does not constitute a securities transaction. However, it is worth noting that large sales to institutional investors are still deemed illegal securities offerings.

The announcement of this news immediately triggered a positive reaction in the market. The price of XRP saw a significant increase, rising from $3.04 to $3.27, an increase of more than 7%. This reflects investors' optimistic sentiment regarding this legal victory.

Brad Garlinghouse, the CEO of Ripple, stated that the company will shift its focus towards building a 'value internet', turning a new page completely. This statement hints at Ripple's future direction, which may further promote the application of blockchain technology in value transfer and financial services.

This ruling is significant not only for Ripple and XRP holders but also provides important legal references for the entire encryption industry. It may influence the SEC's regulatory stance on other encryption assets in the future, bringing a clearer legal environment to the market. However, industry insiders still need to exercise caution, as large sales targeting institutional investors are still considered violations.

As this milestone event comes to a close, participants and observers in the encryption currency industry are looking forward to how this ruling will affect the future regulatory environment and market development. Undoubtedly, this will become an important turning point in the history of encryption currency, potentially paving the way for further regulation and development in the industry.