The United States Securities and Exchange Commission (SEC) has appealed Judge Analisa Torres's July 13, 2023 ruling in favor of Ripple. The case was docketed on October 4 in the U.S. Court of Appeals for the Second Circuit’s PACER system.

SEC Appeal Against Ripple

According to defense lawyer James Filan, the case title is Securities and Exchange Commission v. Ripple Labs Inc., and the docket number is 24-2648. This formally confirms the appeal. Alongside the SEC, Ripple Executives Brad Garlinghouse and Chris Larsen were named as the appellees. Currently, there is no date set for the hearing.

Community Reaction to SEC Actions

This move has sparked discussion in the crypto community, with many questioning the regulator's motives. In the past, the SEC failed to prove its claims against Ripple's leadership. Some speculate the agency might revisit other cases from previous proceedings.

Ripple's Future Amid Uncertainty

In a recent 'Thinking Crypto' podcast, attorney Fred Rispoli assessed the SEC's likelihood of winning against Ripple. He believes the company has what it takes to succeed, but it depends on the panel handling the case. He noted that if the panel has a history of siding with the government, the SEC's chances could rise to 70–80%.

The XRP community must brace for whatever outcomes may arise from the SEC's appeal against Ripple. The company's future hinges on the appellate review result.