The lawsuit between Ripple and the United States Securities and Exchange Commission (SEC) may continue, as new reports suggest the regulator is considering opposing the court's decision. Should the SEC appeal, Ripple could face a prolonged and more complex legal battle, extending the period of regulatory uncertainty.
Fox Business journalist Eleanor Terrett revealed on September 26 that the SEC may appeal a July 2023 ruling by Judge Analisa Torres regarding Ripple's programmatic sales of XRP. The crypto community had speculated that the legal battle was nearing its end, but these new revelations have shattered those assumptions.
The former SEC lawyer informed Terrett that many within the SEC believe the decision is flawed and must be appealed. The ruling had been a partial win for Ripple since it declared that programmatic sales of XRP are not securities.
In August 2024, Judge Torres concluded the initial chapter of the lawsuit by imposing a $125 million penalty on Ripple and restricting its future activities. However, the legal fight may persist if the SEC decides to appeal before the October 7 deadline.
Crypto analyst 'JackTheRippler' has highlighted October as a crucial month for Ripple and XRP holders. Despite speculation about an appeal, he remains optimistic and predicts that XRP could reach new all-time highs, driven by mass adoption in the United States.
