90% Chance Ripple (XRP) Loses Against SEC On Appeal? Fmr. Senate staff comments

The case between the U.S. Securities and Exchange Commission and Ripple Labs moved forward after Judge Analisa Torres ruled that the company should be fined $125 million in a decision that she partly respected and partly complied with the claims of the SEC.

Now, participants and industry experts are speculating about the probabilities of its outcome, which is likely to have a serious impact on the price of XRP.

90% Chance of Win for SEC on Appeal: Fmr. Senate staff

Before we get into that, it’s worth noting that the $125 million fine the court ordered represents a 94% discount from what the SEC was initially asking for.

Therefore, many industry experts are anticipating the Commission’s appeal and challenging the ruling.

According to Dennis Kelleher, a former senior Senate staffer, the SEC has a 90 percent chance of winning on appeal.

90% chance of US SEC winning on appeal: Ripple judge reversed 90 years of law when he ruled that sophisticated investors get the protection of securities laws, not unsophisticated investors. That’s why all the other judges have rejected it.

Many in the comments section have outlined the discrepancies in this statement, starting with the most glaring: Judge Analisa Torres is not a man.

What Kelleher is referring to is his decision to uphold the SEC’s claims that programmatic sales of XRP on third-party cryptocurrency exchanges constitute an offering of investment contracts. On the other hand, however, Judge Torres confirmed that sales of XRP to accredited institutional investors did, in fact, fall within securities regulations.

It’s also worth noting that Kelleher’s comments are a response to a statement made by Stuart Alderoty, Ripple’s chief legal counsel.

Resolution in 24 days

Alderoty has stated that Ripple will pay the fine if there is a resolution and it believes there will be within 24 days.

As CryptoPotato previously reported, he also said that:

“Given Judge Torres’ careful and thoughtful treatment of all the issues in this case, we are very confident that any appeal would be challenging for the SEC. If he were advising the SEC (not as Ripple’s Chief Legal Officer, but as a lawyer), I would recommend that they not appeal.”

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