The SEC isnât backing down just yetâit just filed Form C, appealing a previous court ruling on Rippleâs XRP sales. The appeal focuses on three key areas: sales of XRP through exchanges, distributions to employees, and transactions by Ripple execs Brad Garlinghouse and Chris Larsen. Rippleâs Chief Legal Officer hinted that we could see Rippleâs own response as early as next week, setting the stage for an intense legal battle.
On The Good Morning Crypto Show, legal expert James Murphy (aka MetaLawMan) shed light on the next steps. He believes Ripple stands a good chance at the higher court level, where judges can take a deeper look into the complex nature of XRP transactions. Murphy argues that XRP holders donât benefit directly from Rippleâs profits, unlike traditional investors, which could be a game-changer in Rippleâs favor. He also slammed the SECâs outdated framework, calling it ill-suited for modern technologies like crypto.
Ripple is expected to argue that institutional sales and transactions on its On-Demand Liquidity (ODL) platform shouldnât be classified as investment contracts. Murphy sees the ODL argument as particularly strong, explaining that these transactions were structured more like wholesale contracts, with institutions intended to resell XRP, not invest in Ripple itself. Ripple is aiming to overturn penalties totaling $125 million, which were calculated based on institutional and ODL sales.
The pressure is mounting, and if Ripple wins this appeal, it could not only remove penalties but also set a precedent for future crypto cases. All eyes are now on the next court filing, as the XRP community and legal analysts anticipate major progress toward a final resolution. Momentum is building, and if Ripple secures a victory here, the XRP market could explode with renewed confidence. đ Stay tunedâthings are heating up!
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