Brad Garlinghouse, the CEO of Ripple Labs, has revealed plans to continue his legal battle against the U.S. Securities and Exchange Commission (SEC) following the regulator’s decision to appeal a recent court ruling regarding XRP.
In a post on X on October 2, Garlinghouse remarked, “Somehow, they still haven’t gotten the message: they lost on everything that matters.” He underscored that, despite the appeal, XRP is currently classified as a non-security.
In July, Judge Analisa Torres of the New York District Court ruled that XRP is not considered a security when sold on public exchanges, marking a partial victory for Ripple in the SEC’s ongoing lawsuit.
In July, Judge Analisa Torres of the New York District Court ruled that XRP is not classified as a security when sold on public exchanges, delivering a partial victory for Ripple in its ongoing lawsuit with the SEC.
However, the court determined that XRP sales to institutional investors must comply with securities laws, leading to a $125 million fine against Ripple. Recently, both parties agreed to suspend this fine while the SEC prepares for its appeal.
Ripple’s Chief Legal Officer, Stuart Alderoty, expressed his disappointment with the SEC’s decision, calling the lawsuit “irrational and misguided.” He mentioned that Ripple is contemplating whether to file a cross-appeal.
Legal experts anticipate that the appeals process could take up to a year and a half, with a potential ruling from the Second Circuit Court expected in early 2026. Meanwhile, XRP has experienced a 10.86% decline in value over the past 24 hours, trading at approximately $0.53.
Ripple remains committed to defending its stance and demonstrating that XRP is not a security.
