Ripple executives have clarified the jurisdiction of the US Securities and Exchange Commission (SEC) over XRP tokens, following news that the agency is likely to appeal the Summary Judgment delivered by Judge Analisa Torres on July 13, 2023.

The judge ruled that the programmatic sale of XRP tokens via exchanges does not qualify them as securities. Attorney John Deaton, who represents over 75,000 XRP token holders, explained that even if the SEC does appeal, it would not be a setback for XRP holders, as the Summary Judgment will prevail as the law until a decision is issued by the 2nd Circuit, which could take up to two years.

Stuart Alderoty, the chief legal officer at Ripple, stated that a securities agency only has jurisdiction over securities and pretending to have jurisdiction when there is none is simply a political power play.