SEC vs Ripple—US federal judge rejects SEC's appeal bid. Good news for Ripple community?

It is no longer news that Ripple (XRP) has been involved in a long-drawn-out legal tussle with the U.S. Securities and Exchange Commission (SEC). In a lawsuit filed against Ripple Labs Inc.(the company behind XRP) on December 2020, SEC alleged that Ripple illegally raised its capital in an unregistered securities offering, and argued further that XRP should be classified as a security subject to the similar regulatory requirements as stocks or bonds.

Fast forward to 2023, the case has taken so many twists up until July 13th when it was ruled that Ripple did not break the law when XRP was sold on crypto exchanges–a significant success in Ripple’s legal battle with the U.S. regulators. Although it wasn’t entirely a win because Ripple was found guilty of breaking the securities laws when it offered XRP to hedge funds and other institutional buyers.

While both parties have recorded partial victories in the lawsuit so far, the case has taken yet another twist as a U.S federal judge rejected SEC’s appeal bid, establishing her previous rule regarding Ripple’s XRP crypto; a major blow to the SEC's enforcement efforts.

With the appeal option now void, both parties are gearing up for a pulsating trial scheduled for April 23, 2024. A verdict that has the potential to transform the regulatory enforcements for cryptocurrencies and likely set a precedent for how cryptocurrencies are classified and regulated in the U.S and beyond.

XRP holders and traders may have witnessed significant rises in the value of the token each time the case tilts in favour of Ripple, and will be predictably hoping for a victorious verdict at last.

What are your expectations?