Chief legal officer at Ripple Labs Stuart Alderoty has issued an X post that clearly hints that Alderoty believes the SEC is likely to lose its legal battle against Ripple. However, this may happen only if Ripple takes the case on to the U.S. Supreme Court.
Is Alderoty hinting that Ripple may win case soon?
Alderoty posted a screenshot with a quote from today's issue of the Wall Street Journal. It says: "The Supreme Court has repeatedly ruled against the SEC in recent years."
This summer, Federal Judge Analisa Torres issued a ruling partly in favor of Ripple. She stated that XRP sales made by the company on the secondary market and its programmable sales do not qualify as security sales. But direct sales to financial institutions do.
This ruling pushed the XRP price to a $0.71 high with a decline that followed soon.
This fall, the SEC regulator decided to drop personal legal cases against Ripple chief executive Brad Garlinghouse and the company's cofounder and former CEO Chris Larsen.
At the start of November, Brad Garlinghouse said in an interview during the DC Fintech Week 2023 event that he is ready to transfer the lawsuit of the SEC against it to a higher level and take it to the U.S. Supreme Court.
Hence Alderoty's X post was published today as he seems to be dropping a clear hint that should Ripple do it, the victory will not go to the SEC regulator.