SEC Appeals Ripple Ruling, Citing Supreme Court Precedent Conflicts

The SEC challenges a federal judge's decision that XRP sales were not securities, prolonging the legal battle with Ripple.

The SEC has filed an appeal against Judge Analisa Torres' ruling that Ripple's XRP is not a security, seeking to overturn the decision.
The appeal follows a $125 million fine imposed on Ripple, significantly less than the SEC's initial $2 billion demand.
Ripple's programmatic sales of XRP to retail exchanges were deemed not to be securities, while institutional sales were ruled as unregistered securities.
Ripple's legal team and CEO Brad Garlinghouse have criticized the SEC's decision to appeal, describing it as disappointing but expected.
The appeal could impact the potential approval of a Bitwise XRP ETF, with experts suggesting its chances of success are now low.