XRP Lawsuit Resolution Expected in 24 Days, Stuart Alderoty Hints at a 10% Chance of the SEC Winning on Appeal

Concerns regarding the XRP lawsuit continuation continue to hover around once again with the probability of the U.S. Securities and Exchange Commission (SEC) appealing the court decision of $125 million in fine to Ripple.

Ripple is now eyeing a resolution in the XRP lawsuit within 24 days, as stated by Ripple Chief Legal Officer Stuart Alderoty in a recent interview. This comes after the court ordered Ripple to pay a $125 million fine over XRP sales that were deemed unregistered securities by the U.S. Securities and Exchange Commission (SEC).

The SEC has the option to appeal the court decision, but Alderoty believes the chances of them winning are slim. He stated that if the SEC were rational, they would not appeal the ruling. However, given the SEC’s approach to crypto regulation, which Alderoty described as irrational, an appeal is still possible.

“We put out a statement saying that we believe that the SEC has about a 10% chance of winning on appeal if they choose to do so. We believe that the court fully addressed all of the legal issues in this case and applied them correctly,” said Alderoty.

“We're hoping that the SEC will choose not to appeal, but if they do, we're prepared to continue defending XRP and defending Ripple. We're also hoping that this will lead to a resolution in this case. We're now 24 days away from that.”

The SEC filed a lawsuit against Ripple in December 2020, alleging that the company raised over $1.3 billion through an unregistered XRP securities offering. The case has been closely followed by the crypto community, with many arguing that the SEC’s definition of XRP as a security could set a dangerous precedent for other digital assets.

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