Lawyers Project Ripple to Emerge as Winners Over The SEC in Future Appeals
Pro-digital asset lawyers have projected a victory for Ripple (XRP) in any appeal by the Securities and Exchange Commission (SEC) in the case of alleged unregistered securities offering.
In a social media post on X (Twitter), Jeremy Hogan, a pro-XRP attorney who closely followed the lawsuit addressed certain issues about the appeal stating that “for all intents and purposes, the Ripple and SEC is over.”
He based his analysis on the fact that the regulator dismissed the rest of the case to the effect that there would be no trial next year as no new surprises would be presented.
“Which means the Court will be issuing a Final Judgment (probably) sometime next year. Only Ripple needs to worry about that,” he added.
On the chance of the Commission winning a likely appeal, he shared a percentage of reversed appeals by the United States courts between 2011 and 2015 concluding that there is only a 14.2% chance of a change in the verdict.
Similarly, another lawyer Bill Morgan reacting to the analysis and statistics by Hogan noted that to him, there is no appealable error in favour of the SEC.
On the other hand, Ripple stands to gain because the ODL sales do not meet at least two requirements of the Howey Test adding that the finance regulator has a 3% chance of appeal against the ruling.
Hogan also added that the case might proceed with a settlement before final judgment is made but in all probability, it would be decided in Ripple’s favour.
The SEC has continued in search of victories over its tough stance on the digital asset market after it viewed most cryptocurrencies as securities, a move that sprung several lawsuits against the market.
The Commission instituted legal action against Ripple Labs alongside two executives, its CEO
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