Pro-XRP Lawyer Explains What Will Happen if Ripple Decides to Appeal the Ruling on Institutional Sales

The post Pro-XRP Lawyer Explains What Will Happen if Ripple Decides to Appeal the Ruling on Institutional Sales appeared first on Coinpedia Fintech News

Judge Torres recently approved the SEC’s motion to proceed with an interlocutory appeal. Notably, there was no delay in Judge Torres’ decision. However, pro-XRP lawyer Fred Rispoli has opened up about a scenario where Ripple decides to appeal. 

In a conversation with Thinking Crypto’s host, Rispoli spoke about the situation where Ripple might appeal the ruling on institutional sales.

The host asked Rispoli, “Let’s say the scenario where Ripple does decide to appeal, you know, the institutional sales and to find they would’ve to pay there. Do you think they have a strong chance of winning that or reversing that?”

Rispoli expressed hesitancy to predict with confidence without learning more about the judges on the Second Circuit Court of Appeals. He discussed the age of the judges, noting that there seemed to be a trend where younger judges ruled differently from older ones in crypto-related cases. 

The lawyer said, “It looks like when you start seeing these crypto cases, the judges that are closer to their forties and fifties rule one way and the judges that are in their seventies and eighties rule another way. And, you know, it’s unfair.”

According to him,  the composition of the panel of judges would be crucial in determining the outcome. From a legal standpoint, he suggested that there was a roughly equal chance of the appeal either affirming the current decision or leading to a reversal of the ruling on securities transactions.

Rispoli said that it will take around a year for anything significant to happen in this situation. The host highlighted that there probably won’t be big changes in the next year. Rispoli agreed and talked about the idea of new laws bringing a clearer solution. He guessed that if Ripple wants good results, they might try to make the legal process longer to wait for possible changes in the government that could affect how the SEC acts.