Lawyer’s opinion: SEC’s chance of winning in appeal against Ripple is 3%-14%

Lawyer Bill Morgan posted on the X platform that the chances of the US SEC winning the appeal against Ripple are very slim. Morgan argued that there was no clear appealable error other than “Ripple’s failure to meet at least two aspects of the Howey test with respect to its ODL sales,” while adding that the chances of the SEC successfully appealing Ripple’s case are very slim, approx. 3%. Morgan's prediction is based on another statistic shared by prominent attorney Jeremy Hogan, who shared government data on appeal success rates in different types of lawsuits. Data shows that the SEC has a 14.2% chance of winning its appeal against Ripple. (Cointelegraph) Previously, Ripple announced that the U.S. Securities and Exchange Commission (SEC) has dropped all charges against its CEO Brad Garlinghouse and Executive Chairman Chris Larsen. Ripple has had two previous successes, including a July 2023 court ruling declaring that "XRP itself is not a security," and an October federal judge's decision to reject the SEC's appeal request.