Ripple has expressed its opposition to the SEC’s move to appeal its partial loss in the XRP case. In a court filing, Ripple argued that the SEC failed to meet aspects of the Howey test and therefore the appeal should be dismissed. The previous ruling by Judge Analisa Torres determined that XRP is not necessarily a security, which was seen as a significant win for Ripple and the cryptocurrency industry. Ripple countered the SEC’s motion for an interlocutory appeal by stating that it does not raise any new legal issues. The SEC would need approval from multiple courts to file the appeal, and Ripple argued that even if the SEC were to win, the litigation would continue due to unresolved issues. Ripple’s lawyers believe it would be more reasonable for the SEC to appeal after a final judgment is reached.
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