Specifically, the ruling stated that programmatic sales of XRP were not considered a security. Moreover in a more recent court hearing in August 2024, Judge Torres brought the first chapter of the lawsuit between Ripple and SEC to a close by imposing a $125 million penalty on Ripple and forbidding the digital asset firm from violating future securities law. This outcome was seen as a major win for the Ripple community, as it provided well-needed legal clarity and seemingly put an end to the prolonged court battle.
If the SEC decides to proceed with the appeal, Ripple could be drawn into an even longer and more tedious legal dispute, extending the uncertainty about its regulatory clarity. Related Reading: Crypto Champion NYC Mayor Eric Adams Indicted For Corruption SEC May Appeal Ripple Court Ruling In an X (formerly Twitter) post on September 26, Fox Business journalist Eleanor Terrett revealed new information concerning the three-year-long court battle between Ripple and the US SEC.
Contrary to recent reports of a potential SEC appeal, the analyst predicts that the regulator would not appeal the court’s ruling on Ripple. Related Reading: SEC May Appeal Ripple Case, Says Journalist—Senate Candidate Joins The Debate He also forecasts that XRP could reach new all-time highs in October, driven by the start of mass adoption in the United States (US).
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