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# SEC Drops Charges Against Ripple Executives: A Significant Turn of Events

The dismissal of charges against Ripple CEO Brad Garlinghouse and Executive Chairman Chris Larsen by the United States Securities and Exchange Commission (SEC) marks a significant turn of events in the ongoing legal battle between the SEC and Ripple. The allegations against Garlinghouse, Larsen, and Ripple were related to the violation of securities charges stemming from the sale of the XRP token. Ripple wasted no time in expressing their satisfaction with the decision, describing it as a "stunning capitulation" in a press release. Meanwhile, Ripple's Chief Legal Officer, Stuart Alderoty, took to Twitter to call it "a surrender by the SEC." The market has responded positively to the news, with the price of XRP seeing a 4% increase since the announcement.
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