In the case of Ripple vs. SEC, after Judge Analisa Torres ordered Ripple Labs to pay a $125 million fine in the damages phase, active discussions arose regarding a potential appeal by the U.S. Securities and Exchange Commission (SEC). Some sources suggest that the agency may choose not to appeal; however, legal experts indicate the likelihood of appeals regarding earlier rulings, including simplified court proceedings.

Judge Torres concluded the lengthy case heard by the Southern District Court of New York. In the final ruling, the court determined that Ripple Labs must pay a $125 million fine, significantly reducing the SEC's original demand of $2 billion. At the same time, the judge granted the regulator's request for an injunction, permanently prohibiting Ripple from selling XRP tokens to institutional investors.

Ripple Labs' leadership, including CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty, regarded this as a significant victory not only for the company but also for the entire crypto industry and the rule of law. The executives expressed satisfaction with the verdict and indicated that they do not plan to appeal Judge Torres' decision.

Garlinghouse stated that the court significantly reduced the SEC's demands by about 94%, confirming that the regulator had overreached its position. He emphasized that Ripple respects the court's decision and now has a clear understanding of the next steps for the company's development.

Meanwhile, legal experts believe that appeals from both the SEC and Ripple could follow soon. Although there are suggestions that the SEC may choose not to appeal the ruling regarding sanctions, attorneys point out that no official statements have been made on this topic by Garlinghouse or Alderoty. XRP supporter attorney Bill Morgan noted that in interviews, Stuart Alderoty did not make any statements indicating a definitive decision by the SEC regarding an appeal.

Former SEC employee Marc Fagel explained that the agency has 60 days to file an appeal in the Ripple case. This could also occur after Ripple pays the fines within 30 days. If an appeal is filed, it is likely that funds will be held until a final resolution is reached.

Attorney Fred Rispoli suggested that Ripple Labs would only file a counter-appeal if the SEC takes the first step in that direction. He also noted that the agency has not yet used the term "appeal" and has not expressed strong criticism of the ruling. Meanwhile, the company continues to assert that its current sales of XRP do not fall under the category of securities.

Attorney Jeremy Hogan pointed out that sales of XRP through the ODL platform will continue despite the court's injunction. First, most XRP and ODL transactions by Ripple occur outside the jurisdiction of the U.S., so they are not subject to the court's ruling. Second, sales of XRP to institutional clients remain legal if they occur within one of five exceptions to the registration requirement.

Additionally, Ripple has made significant changes to its methods of selling XRP to comply with the court's ruling in the SEC case.