Brad Garlinghouse, the CEO of Ripple Labs, has announced plans to continue fighting the U.S. Securities and Exchange Commission (SEC) in court after the regulator decided to appeal a recent court ruling on XRP.
In an Oct. 2 post on X, Garlinghouse stated, “Somehow, they still haven’t gotten the message: they lost on everything that matters.” He emphasized that, despite the appeal, XRP is currently recognized as a non-security.
Source: X
Last July, Judge Analisa Torres of the New York District Court ruled that XRP is not considered a security when sold on public exchanges, bringing a partial victory for Ripple in the SEC’s ongoing lawsuit.
However, the court found that XRP sales to institutional investors must adhere to securities laws, resulting in a $125 million fine against Ripple. Recently, both parties agreed to pause this fine while the SEC prepares for its appeal.
Ripple’s chief legal officer, Stuart Alderoty, expressed disappointment over the SEC’s decision, describing the lawsuit as “irrational and misguided.” He noted that Ripple is considering whether to file a cross-appeal.
Legal experts predict the appeals process may take up to a year and a half, with a possible ruling from the Second Circuit Court expected in early 2026. Meanwhile, XRP price has seen a decline of 10.86% in value over the last 24 hours, trading at around $0.53.
Ripple remains determined to defend its position and prove that XRP is not a security.
