The United States Securities and Exchange Commission is set to file an appeal by January 15, 2025, after the court ruled that XRP isn’t a security. The appeal wants to reassess Ripple’s XRP sales and executive sales as these were not classified correctly, according to the SEC, who insist these sales are unregistered securities offerings.
The SEC proposes a larger fine than the earlier ordered 125 million USD, arguing it’s insufficient to prevent future issues. Ripple has recently updated its XRP On-Demand Liquidity transactions to meet the court’s decision, and lawyers foresee a potential Ripple-SEC settlement by April or May 2025.
Though dealing with legal challenges, Ripple is concentrating efforts on U.S. Job creation and agreements. Brad Garlinghouse revealed that 75% of its open positions are U.S.-based, and the company has increased contracts there, portraying a promising outlook for Ripple in the U.S. While the legal process continues.