Pro-digital asset lawyers are confident that Ripple (XRP) will emerge victorious in any appeal made by the Securities and Exchange Commission (SEC) in the case of alleged unregistered securities offering.
In a recent social media post on Twitter, Jeremy Hogan, a pro-XRP attorney closely following the lawsuit, addressed certain issues about the appeal and stated, “For all intents and purposes, the Ripple and SEC is over.” Hogan based his analysis on the fact that the regulator dismissed the rest of the case, indicating that there would be no trial next year and no new surprises to be presented. He further added, “Which means the Court will be issuing a Final Judgment (probably) sometime next year. Only Ripple needs to worry about that.”
Considering the possibility of the Commission winning a likely appeal, Hogan shared statistics from reversed appeals by the United States courts between 2011 and 2015. Based on these numbers, Hogan concludes that there is only a 14.2% chance of a change in the verdict.
Another lawyer named Bill Morgan also reacted to Hogan’s analysis and statistics. He stated that, to him, there is no appealable error in favor of the SEC. Additionally, Morgan pointed out that Ripple stands to gain as the ODL sales do not meet at least two requirements of the Howey Test. He believes that the finance regulator has a low 3% chance of successfully appealing the ruling.
Hogan also mentioned the possibility of a settlement being reached before the final judgment is made. However, he strongly believes that the case will likely be decided in Ripple’s favor.
