Billionaire entrepreneur and popular television personality, Mark Cuban, was among the few voices that strongly backed Ripple Labs and XRP (CRYPTO: XRP) during their years-long legal struggle with the SEC.
What happened: In an X post from July 2023, Cuban criticized the agency's handling of the lawsuit, specifically their assertion that every buyer of XRP is an investor.
"Securities have one purpose, to be a security. For a DeFi or CEX buyer it’s impossible to know why a buyer buys," the "Shark Tank" host argued.
Cuban's remarks came after a U.S. judge ruled that sales of XRP to retail clients are legal, while sales to institutional investors violated securities laws. The SEC alleged that XRP is a security and that all sales constitute a violation.
The court applied the Howey Test, a standard used to determine whether certain transactions qualify as “investment contracts.”
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Fast forward to July 2025, and things look all but settled. Both Ripple and the SEC have agreed to drop their respective appeals, effectively bringing the years-long legal battle to an end.
The SEC's U-turn coincided with the election of President Donald Trump, who has pledged support to the cryptocurrency industry and vowed to make the U.S. the global leader in digital assets.
Additionally, when Cuban made the post, XRP was trading at $0.7724 apiece. Since then, it has rallied an astounding 281.9%. This means that if you had invested $1000 in XRP while ignoring legal uncertainties, it would be worth $3,819.26 today.
Cuban has championed a clear regulatory framework for cryptocurrency, arguing that the lack of defined rules harms businesses and investors. He was particularly critical of former SEC Chair Gary Gensler for making overly complex regulations that hindered the industry’s growth.
Price Action: At the time of writing, XRP was exchanging hands at $2.95, up 2.61% in the last 24 hours, according to data from Benzinga Pro. Year-to-date, the coin has rallied over 25%.
Photo Courtesy: Kathy Hutchins On Shutterstock.com
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