The U.S. Securities and Exchange Commission (SEC) recently appealed its case against Ripple following a ruling by a federal judge that the SEC did not sufficiently prove Ripple violated securities laws. XRP enthusiasts and legal experts are closely watching the next steps.

Details of the Appeal Process

XRP enthusiast Ashley Prosper shared on X (formerly known as Twitter) that after an appeal is filed, it is docketed, and the case is sent to the Court's Civil Appeals Management Program (CAMP) office to schedule a settlement conference.

Reactions and Expectations

This conference can occur either in person or by phone, and all parties involved must discuss legal, factual, and procedural issues. Attorneys are expected to consult with their clients beforehand to establish settlement terms effectively.

Expert Opinions

Some speculate the SEC might withdraw its appeal, marking a pivotal case moment. However, former SEC lawyer Marc Fagel suggests that the SEC is unlikely to withdraw, due to the known basis of their appeal.

The outcome of the Ripple vs. SEC case is significant for the crypto industry, serving as a potential precedent for token sales and legal statuses moving forward.