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As Dubai and other nations embrace Ripple with open arms, the U.S. Securities and Exchange Commission (SEC) is gearing up for another showdown by claiming it would appeal a district court decision by Judge Analisa Torres. The stage is set for what could be the next big legal battle: SEC v. Ripple 2.0.

The US SEC has filed a Notice of Appeal against Judge Torres’s ruling in July 2023, aiming to contest the judge’s decision that XRP is not a security.

Back in 2023, the famous SEC v. Ripple case concluded with Judge Torres ruling that the secondary sales of XRP cannot be considered a “security,” even though the Wall Street regulator disagrees.

Despite the SEC’s filing, Ripple’s CEO Brad Garlinghouse and Chief Legal Officer (CLO) Stuart Alderoty remain unfazed and have promised to be ready to fight the regulator’s appeal. Commenting about the SEC’s latest action, Garlinghouse stated:

“If Gensler and the SEC were rational, they would have moved on from this case long ago. It certainly hasn’t protected investors and instead has damaged the credibility and reputation of the SEC.”

Ripple’s CEO further mocked the SEC, claiming: “Somehow, they still haven't gotten the message: they lost on everything that matters. Ripple, the crypto industry, and the rule of law have already prevailed.”

Promising to fight SEC’s filing in court, Garlinghouse claimed that Ripple’s native token, XRP, status as a non-security is “the law of the land today.” He further reiterated XRP’s non-security status does not change in the “face of the misguided.” 

Alderoty also shared his frustration with the crypto community, claiming that SEC’s decision to appeal is “disappointing.” Additionally, the CLO of Ripple stated that SEC’s statement of Ripple acting recklessly was rejected by the court and pointed out there were allegations of fraud, no victims or losses. He stated:

“Instead of faithfully applying the law, this agency, under this Chair, continues to engage in litigation warfare against the industry. We are evaluating whether to file a cross appeal. Either way, the SEC's lawsuit has been irrational and misguided from the start, and we're ready to prove that yet again in the appellate court.”

Hours after the SEC’s filing started circulating the crypto X space, XRP is priced at $0.515 after witnessing a 14.21% drop in its value hours, according to the data from CoinMarketCap.