Predictions by lawyers indicate that the SEC's appeal against Ripple has a success rate ranging from 3% to 14%.

The SEC Has Slim Chance of Winning Ripple Appeal, Says Lawyer

According to lawyer Bill Morgan, the United States Securities and Exchange Commission (SEC) has a very slim chance of winning its appeal against Ripple in their ongoing lawsuit. Morgan argues that there is no obvious error in Ripple’s favor, except for the ODL sales not meeting the two prongs of the Howey test. He gives the SEC a 3% chance of success on appeal. This prediction is in response to data shared by attorney Jeremy Hogan, which suggests that the SEC has a 14.2% chance of winning the appeal.

Ripple’s Victory in Court Battle

The SEC and Ripple engaged in a three-year court battle before a judge ruled that the sale of XRP on crypto exchanges does not violate securities law. This ruling was a significant win for Ripple, as it had suffered business losses during the lawsuit when major crypto exchanges delisted XRP from their platforms. The SEC also lost an appeal against this judgment, and recently moved to dismiss all charges against Ripple CEO Brad Garlinghouse and executive chair Chris Larsen.

Reaction from Ripple and Predictions for the Case

Ripple’s chief legal officer, Stuart Alderoty, called the SEC’s move a “surrender,” while Ripple described it as a “stunning capitulation” in their official statement. With the rest of the case dismissed, Morgan predicts that there will be no trial next year and expects a final judgment to be given sometime in 2024.

Hot Take: SEC Faces Slim Odds in Appeal Against Ripple

Lawyer Bill Morgan believes that the chances of success for the SEC in its appeal against Ripple are very low, at around 3%. This prediction aligns with attorney Jeremy Hogan’s data, which indicates a 14.2% chance of winning the appeal. Ripple’s victory in the court battle and the SEC’s failed appeal have been significant milestones for the company. The SEC’s recent move to dismiss charges against Ripple executives further reinforces their position. As the case progresses, all eyes will be on the final judgment expected next year.