The SEC has dropped charges against Brad Garlinghouse and Chris Larsen, the CEO and Chairman of Ripple Labs, respectively. The charges alleged that Garlinghouse and Larsen had sold XRP, the company's native cryptocurrency, as unregistered securities. The SEC's decision to drop the charges comes after a series of legal setbacks for the agency and is a major victory for Ripple Labs and the cryptocurrency industry. It is also a sign that the SEC may be reconsidering its approach to regulating cryptocurrencies. The decision is likely to have a positive impact on the price of XRP, as it removes the legal uncertainty surrounding the case.