Circuit

Brad Garlinghouse, the CEO of Ripple Labs, has announced plans to continue fighting the U.S. Securities and Exchange Commission (SEC) in court after the regulator decided to appeal a recent court ruling on XRP.&nbsp; 
In an Oct. 2 post on X, Garlinghouse stated, “Somehow, they still haven’t gotten the message: they lost on everything that matters.” He emphasized that, despite the appeal, XRP is currently recognized as a non-security. 
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 Source: <a href="https://x.com/bgarlinghouse/status/1841597085264839113" target="_blank" rel="noreferrer noopener nofollow">X</a>
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Last July, Judge Analisa Torres of the New York District Court ruled that XRP is not considered a security when sold on public exchanges, bringing a partial victory for Ripple in the SEC’s ongoing lawsuit.&nbsp; 
However, the court found that XRP sales to institutional investors must adhere to securities laws, resulting in a $125 million fine against Ripple. Recently, both parties agreed to pause this fine while the SEC prepares for its appeal. 
Ripple’s chief legal officer, Stuart Alderoty, <a href="https://x.com/s_alderoty/status/1841596012588114116" target="_blank" rel="noreferrer noopener nofollow">expressed</a> disappointment over the SEC’s decision, describing the lawsuit as “irrational and misguided.” He noted that Ripple is considering whether to file a cross-appeal. 
Legal experts predict the appeals process may take up to a year and a half, with a possible ruling from the Second Circuit Court expected in early 2026. Meanwhile, <a href="https://coinmarketcap.com/currencies/xrp/" target="_blank" rel="noreferrer noopener">XRP price</a> has seen a decline of 10.86% over the last 24 hours, trading at around $0.53. 
Ripple remains determined to defend its position and prove that XRP is not a security. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/10/01/bitget-analyst-predicts-xrp-surge-to-0-75-sui-dtx-next-up/" target="_blank" rel="noreferrer noopener">Bitget Analyst Predicts XRP Surge to $0.75, SUI &amp; DTX Next Up</a> 
</blockquote>

Ripple CEO Garlinghouse to Fight SEC Appeal Over XRP Ruling

The Crypto Times

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