Ripple Vs SEC Case: Here’s What US SEC Is Appealing In XRP Lawsuit

As the Ripple vs SEC case proceeds further with the securities regulator submitting a “notice of appeal” in the Second Circuit court this week, the XRP community remains unclear as to what exactly the SEC is appealing as it still needs to make a disclosure with Form C. However, the latest report suggests that the US SEC would be appealing the court’s remedies ruling involving the $125 million penalty to Ripple.

Ripple vs SEC Case Finds Key Details

In the notice of the SEC appeal submitted earlier this week, the securities regulator noted August 7 as the date of ‘final judgment’ without clarifying the specific issues that they intend to appeal. As a result, the XRP community remains confused about whether the SEC would be challenging the ruling on programmatic sales from July 2023 or the court-ordered $125 million penalty that Ripple must make for institutional sales on August 7.

However, a filing document affirmed that the plaintiff US SEC has appealed for the final court judgment on August 7, which involves the $125 million penalty payment by Ripple. Although the blockchain firm agreed to this payment, the securities regulator wasn’t happy with the court’s verdict in the Ripple vs SEC case. This is because the regulator demanded a $2 billion penalty from Ripple before the verdict.

Earlier today, Fox Business journalist Eleanor Terret said that in the Ripple vs SEC case, the regulator has yet to submit its Form C with the Second Circuit, which would specify further details regarding the appeal.

The agency needs to expedite this process to provide Ripple with clear guidance on how to proceed, she wrote. Furthermore, Ripple has a 14-day window from today to file a cross-appeal in XRP lawsuit if it chooses to take that action.

Conclusion of XRP Lawsuit and XRP Price Action

Some of the crypto lawyers have been weighing on the potential conclusion time for the Ripple lawsuit. Pro-XRP lawyer Fred Rispoli stated that a ruling from the 2nd Circuit Court is anticipated no earlier than early 2026. However, he mentioned that the appeal could be withdrawn at any time if both parties reach a settlement agreement.

The XRP price has faced strong selling pressure following the SEC appeal, and dropping by over 15%. At press time, the XRP price is trading at $0.52 with a market cap of $29.7 billion.