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#Altcoins are rising. Is alt season here? SEC's Former Lawyer Announces: Ripple is Getting Ready to Appeal the Decision!
It was suggested that the US Securities and Exchange Commission (SEC) could appeal the decision in the Ripple case.
According to Fox Business reporter Eleanor Terrett, the former SEC lawyer said the institution will appeal the decision regarding Ripple.
Judge Analisa Torres, who handled the case, had decided in July 2023 that Ripple's sale of XRP to small investors was not an investment contract.
It is noteworthy that the SEC is still pursuing an objection despite more than 1 year passing.
The lawyer, who stated that the SEC will 'probably' appeal the decision, included the following statement:
Everyone at the SEC truly believes that the decision is wrong, that there is no proper law, and that it should be appealed.
The Ripple case was settled for $125 million.
The 4-year-old lawsuit between SEC and Ripple was concluded last month. In the decision, Ripple was deemed appropriate to pay a $125 million fine. The SEC has until October 7 to appeal this decision.
According to CoinGecko data, Ripple, which has shown a 0.2% increase in the last 24 hours, is currently trading at $0.5899.