The SEC has already dismissed charges against Ripple CEO Brad Garlinghouse and executive chair Chris Larsen, while the retail XRP sale ruling also went against the regulator.
The United States Securities and Exchange Commission has a very slim chance of winning its appeal against Ripple in the ongoing lawsuit, according to lawyer Bill Morgan, who has been closely following the lawsuit.
Morgan, in a post on X (formerly Twitter), argued that there is no obvious appellable error other than in “Ripple’s favor regarding ODL sales which don’t meet at least two prongs of the Howey test,” while adding that there is a very slim chance of about 3% for SEC’s success in getting an appeal against Ripple.