The court dismissed the SEC's appeal in the Ripple case

The court dismissed the SEC's appeal in the Ripple case New York Southern District Court Judge Analisa Torres has denied the United States Securities and Exchange Commission's (SEC) appeal of its loss to Ripple Labs, the company responsible for issuing the token.

XRP In a document released on October 3, Judge Torres denied the SEC's motion, finding that the SEC had not met the legal requirements to justify an appeal at this stage. XRP price increased about 5% following this news. Although this is not the final outcome of the lawsuit between the SEC and Ripple. The judge set a trial date for April 23, 2024 to resolve outstanding issues, after which the agency can still appeal the entire case. Ripple and the SEC are expected to submit court filings before the end of the year. SEC lawyers argue that how the court handles the Ripple case could have a “significant impact” on other pending cases such as those between the regulator and cryptocurrency exchanges Leading cryptocurrency Binance and Coinbase.