On October 23rd, lawyer Bill Morgan posted on X platform stating that the chances of the US SEC winning the appeal against Ripple are very slim. Morgan believes that apart from the advantage of "Ripple not meeting Howey test in at least two aspects in ODL sales", there are no clear appealable errors. He also added that the possibility of the SEC successfully appealing against Ripple is very slim, about 3%. Morgan's prediction is based on another statistical data shared by famous lawyer Jeremy Hogan, who shared government data on the success rate of appeals in different types of lawsuits. The data shows that the SEC has a 14.2% chance of winning the appeal against Ripple. Previously, Ripple announced that the US Securities and Exchange Commission (SEC) has dropped all charges against its CEO Brad Garlinghouse and Executive Chairman Chris Larsen. Ripple has had two successful cases before, including a court ruling in July 2023 that declared "XRP itself is not a security", and a federal judge's decision in October to reject the SEC's appeal request.
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Lawyer: SEC’s chance of winning in appeal against Ripple is 3%-14%
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