According to U.Today, Better Markets CEO Dennis Kelleher believes that the U.S. Securities and Exchange Commission (SEC) has a 90% chance of winning the Ripple case on appeal. Kelleher criticized the July 2023 ruling by Judge Analisa Torres, stating that it misinterpreted decades of securities law and deprived unsophisticated investors of necessary protections. Judge Torres had ruled that only Ripple's institutional sales violated securities laws, a decision that has sparked significant debate.The ruling was later rejected by U.S. District Judge Jed Rakoff, who argued that the method of sale should not influence the legal status of a token. This ongoing legal battle has seen various opinions and predictions, with Ripple's top lawyer, Stuart Alderoty, expressing confidence that XRP's legal status will remain unaffected by any appeal. He noted that the current ruling is already established law.In a recent development, Judge Torres issued a summary judgment, ordering Ripple to pay $125 million in penalties. Ripple CEO Brad Garlinghouse has indicated his willingness to take the case to the Supreme Court if necessary, highlighting the company's determination to contest the SEC's stance.
