Ripple's long-running SEC case is nearing its end, with only two issues left: the final handling of a $125 million penalty and the scope of an injunction on future institutional XRP sales. The key legal battle was effectively settled in 2023 when a court ruled that XRP is not a security in retail exchange trading, and the SEC later dropped its appeal. Ripple has already set aside the $125 million penalty, but final court approval is still pending. For XRP, the main significance is removing the last regulatory uncertainty that has weighed on the token since 2020. A final resolution could support broader institutional adoption, especially as XRP ETFs continue attracting investor interest.