#Ripple CEO Brad Garlinghouse has announced his intention to continue his fight with the US Securities and Exchange Commission (#SEC ) in court after the regulator decided to appeal a recent court ruling on XRP.
In an Oct. 2 X post, Garlinghouse said, “Strangely enough, they still haven’t figured it out: They lost on every major issue.” He emphasized that despite the appeal,$XRP is currently recognized as a non-security paper.
Last July, Judge Analisa Torres of the New York District Court ruled that $XRP it is not considered a security when sold on a public exchange, a partial victory for Ripple in its ongoing lawsuit #SEC .
However, the court ruled that XRP sales to institutional investors must comply with securities laws, resulting in a $125 million fine against #Ripple . Both sides recently agreed to suspend that fine while the SEC prepares for an appeal.
#Ripple General Counsel Stuart Alderoti expressed disappointment with #SEC 's ruling, calling the lawsuit "irrational and misguided." He also noted that Ripple is considering filing a cross-appeal.
Legal experts predict that the appeal process could take up to a year and a half, with a possible decision from the Second Circuit expected in early 2026. Meanwhile, the price of XRP has fallen 10.86% in the past 24 hours and is trading at around $0.53.
Ripple remains determined to defend its position and prove that XRP is not a security.
