XRP Price Prediction: Can XRP Price See a 10,000% Surge?

In a recent interview, Ripple's Chief Legal Officer, Stuart Alderoty, expressed strong doubts about the SEC's chances of winning the appeal in the XRP case

Ripple's Chief Legal Officer Stuart Alderoty has expressed strong doubts about the SEC's chances of winning the appeal in the XRP case, suggesting they are minimal. He also hinted that a resolution might be just 24 days away, with Ripple ready to settle the matter by paying the $125 million penalty.

Alderoty's comments come after the SEC filed a notice of appeal on March 10, following Judge Analisa Torres' ruling in December that XRP's secondary market sales are not securities under current law. The SEC had argued that all XRP sales, both primary and secondary, should be classified as securities offerings.

In a recent interview, Alderoty criticized the SEC’s decision to pursue an appeal, arguing that a rational approach would be to avoid it. However, given the SEC's history with crypto regulation, he finds their actions far from logical.

"If you look at the Second Circuit, less than 10% of the appeals that are filed actually result in a reversal of the lower court. And that's over the past 10 years. So, you have a 90% chance, historically, of losing at the Second Circuit. And if you look at crypto cases, we're now batting a thousand. We're zero for zero in terms of the SEC getting any type of crypto case affirmed on appeal," said Alderoty.

Despite the appeal, Alderoty noted that the court’s decision remains that XRP's secondary market sales are not securities under current law.

"The court has already ruled on this. The court has already said that XRP, in the secondary market, is not a security. And that's the vast, vast majority of the XRP market. So, that decision is already made. It's not up for grabs anymore. And the SEC is essentially trying to get a do-over on that. And I don't think the Second Circuit is going to give them that opportunity," he added.

While an appeal by the SEC wouldn't be surprising, it's important to consider that historically, less than 10% of appeals in the Second Circuit result in the reversal of lower court rulings. Despite the appeal, the court’s decision remains that XRP's secondary market sales are not securities under current law.

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