**SEC Appeals Ripple Ruling: What's Next for XRP?**
The U.S. Securities and Exchange Commission (SEC) has filed an appeal against Judge Analisa Torres’s decision in the Ripple lawsuit. Back in 2023, Judge Torres ruled that secondary sales of Ripple’s XRP do not qualify as securities transactions, a decision that was celebrated by Ripple Labs and the broader crypto community.
However, the judge also noted that initial sales to institutional investors did meet the criteria for securities sales under the SEC’s Howey test. This mixed ruling has now led the SEC to seek a reversal.
Stay tuned as this developing story unfolds.