Another partial victory for Ripple

A US court dismisses the SEC's appeal of the Ripple ruling. The main proceedings will nevertheless enter the next round in mid-April 2024.

A district court in New York has again ruled in favor of Ripple. According to court documents district judge Analisa Torres dismissed an appeal by the SEC.

The background is an earlier statement that XRP is not an effect when traded on traditional crypto exchanges.

The appeal filed on Oct. 3 challenged this ruling. But it failed.

The main proceedings will enter the next round on April 23. Then the SEC will have a chance to challenge the overall ruling in its favor.

Nevertheless, Ripple's cryptocurrency XRP rose after the ruling was announced. At the time of writing, XRP is up 3.6%.