Unlike typical “shitcoins” that crash after legal troubles, Ripple’s XRP has stayed in the top 20 since 2012, despite its 100 billion pre-mined tokens. Its resilience stems from navigating multiple legal battles and building strategic international partnerships, such as with MoneyGram.
XRP is unique: it wasn’t created as a store of value like Bitcoin or a smart-contract platform like Ethereum. Its purpose is to facilitate fast and affordable cross-border payments. Using the XRP Ledger (XRPL) Consensus Protocol, transactions are validated every 3–5 seconds without mining or staking, making it fast, low-cost, scalable, and eco-friendly.
Designed to solve the “last-mile” problem in global payments, XRP’s On-Demand Liquidity (ODL) eliminates pre-funded accounts and cuts settlement times drastically. This has attracted remittance providers like Intermex, banks like Travelex in Brazil, and major Asian partners such as SBI Group and Tranglo.
This analysis explores XRP’s identity, adoption, legal challenges, strategic alliances, and the future outlook for both the token and Ripple.
Ripple (XRP)’s Timeline of Lawsuits and Partnerships
Ripple has always had a dual narrative: on one hand, a series of high-stakes legal battles that threatened its existence, and on the other, the steady construction of a global network of powerful financial partners.
The legal journey of XRP has been complex and defining, marked by regulatory enforcement, private litigation, and investor class actions.
Here’s a detailed breakdown of the key legal and regulatory challenges that have shaped its path.
| Name | Type | Filing Period | Jurisdiction | Outcome |
| SEC v. Ripple Labs, Inc. | SEC Enforcement | 2020-12-22 | U.S. District Court, SDNY | Summary judgment (Jul 2023) favored Ripple on public sales but not institutional sales, with resolved actions by 2025 as per multiple reports. |
| In re Ripple Labs, Inc. Litigation | Investor Class Actions | 2018-05 to 2018-11 | N. District of California | Consolidated and ongoing litigation with varying procedural rulings. |
| R3 HoldCo LLC v. Ripple Labs | Contract Dispute | 2017 | U.S. Civil Courts | The dispute was over an option to purchase a large volume of XRP, with settlement concluded in September 2018 under confidential terms. |
| Tetragon v. Ripple Labs Inc. | Shareholder Litigation | 2021-01 | Delaware Court of Chancery | The court denied Tetragon’s request and favored Ripple, finding that the SEC’s lawsuit did not automatically trigger redemption rights for investors. |
| FinCEN / DOJ Enforcement | Regulatory Enforcement | 2015-05-04 | U.S. Treasury / DOJ | Resolved by a settlement where Ripple paid a $700,000 civil penalty for violating Bank Secrecy Act requirements. |
| MoneyGram-Related Investor Suits | Related Class Actions | 2021 | U.S. Federal Courts | Lawsuits filed against MoneyGram (not Ripple) alleging it misled investors about the benefits of its partnership with Ripple. |
The landmark SEC vs. Ripple case remains the most influential. In December 2020, the SEC alleged that Ripple conducted a $1.3 billion unregistered securities offering. The pivotal moment came in July 2023, when Judge Analisa Torres ruled that XRP sold on public exchanges was not a security, while direct sales to institutions were. This decision provided crucial regulatory clarity, even as appeals and final penalty negotiations continued into 2025.
While navigating legal challenges, Ripple simultaneously executed an aggressive partnership strategy to build the infrastructure necessary for XRP’s real-world use.
| Partner Name | Type | Period | Region | Notes |
| MoneyGram | Partnership & Investment | 2019-06-17 | Global | Ripple invested ~$50M, and MoneyGram utilized ODL for remittances from 2019-2021 before the relationship was wound down amid SEC pressure. |
| Bitso | Partnership & Investment | 2019-10-14 | Mexico / LATAM | Active ODL partner. Ripple led an investment round to ensure liquidity for the crucial U.S.-Mexico remittance corridor. |
| SBI Holdings | Strategic JV | 2016-onward | Japan / APAC | Long-standing and deep partnership. Formed SBI Ripple Asia to promote Ripple’s tech to a consortium of Japanese banks. |
| Santander | Pilot / Partnership | 2018 | Spain / Global | Launched the “One Pay FX” mobile app using Ripple’s enterprise messaging technology (xCurrent) for faster international payments. |
| American Express | Pilot / Partnership | 2017-2018 | U.S. & UK | Conducted pilot trials using RippleNet for B2B payments between the U.S. and the UK, in partnership with Santander. |
| Tranglo | Partnership / Stake | 2020-2021 | Asia | Ripple acquired a strategic stake in this payment hub to expand ODL corridors and provide payout services across Southeast Asia. |
| Coil | Ecosystem Grant | 2019 | Developer Ecosystem | Ripple’s investment arm, Xpring (now RippleX), provided a 1 billion XRP grant to support web monetization and micropayments. |
| Exchange Integrations | Liquidity Partnerships | Various | Global | Ongoing partnerships with exchanges like Bitstamp, Uphold, and Bitso to provide essential liquidity for ODL corridors. |
| RippleX Portfolio | Venture Investments | 2018-onward | Global | RippleX has made numerous investments in projects like Forte, NEAR, and Coinme to foster innovation and expand the use cases of the XRP Ledger. |
| BBVA | Banking Partnership (Digital Asset Custody) | 2025-09 | Spain, Switzerland, and Turkey | Ripple is providing custody tech for retail crypto under EU MiCA rules, building on existing custody partnerships |
This web of partnerships—from global banks to regional payment providers and innovative startups—has been instrumental. Key alliances like those with SBI Holdings in Japan and Bitso in Mexico have created powerful beachheads for institutional adoption and proven the viability of ODL in high-volume remittance corridors.
What Next For XRP?
With the worst of its legal battles seemingly behind it and a clear use case gaining traction, the future of XRP is focused on expansion and evolution. Several key developments are poised to shape its next chapter.
- The Pursuit of a Spot XRP ETF: Following the successful launch of Bitcoin and Ethereum ETFs, the crypto world is eagerly anticipating an XRP Exchange-Traded Fund. Approval, which analysts speculate could come by late 2025, would be a massive catalyst, signaling full regulatory acceptance and potentially unlocking significant capital inflows.
- Expansion into Tokenization: Ripple is aggressively targeting the multi-trillion-dollar market of tokenizing real-world assets (RWAs). The XRP Ledger’s speed and low cost make it an ideal platform for issuing and settling tokenized assets like real estate or bonds.
- DeFi on the XRP Ledger: To compete with other smart contract platforms, Ripple is fostering the growth of Decentralized Finance (DeFi) on the XRPL. Key to this is the launch of an EVM-compatible sidechain, which will allow developers to easily bring Ethereum-based applications into the XRPL ecosystem.
- The Rise of Stablecoins and CBDCs: Ripple has launched its own US dollar-backed stablecoin to enhance its enterprise offerings. Furthermore, it is actively engaged with central banks worldwide, piloting solutions for Central Bank Digital Currencies (CBDCs) on a private version of the XRP Ledger, positioning XRP as a potential neutral bridge asset in a future of interconnected digital currencies.
