XRP Soars to $3.10 as SEC Appeals Retail Ruling in Ripple Case

• The US SEC’s opening brief in the XRP lawsuit makes no sense, said lawyer Jeremy Hogan.
• Hogan described the brief as “lackluster” with a majority of it explaining a previous ruling.
• The SEC has failed to give “any reasonable evidence” to support its claims.

The United States Securities and Exchange Commission (SEC) filed its opening brief in the XRP lawsuit on Wednesday, sparking discussions across the crypto community. Meanwhile, XRP soared to a seven-year high of $3.10, gaining significant attention.

Jeremy Hogan, a partner at Hogan & Hogan, criticized the SEC’s brief, calling it “lackluster” and suggesting that even the brief’s author seemed aware of the weak arguments. Hogan highlighted that the SEC’s appeal focuses solely on Judge Analisa Torres’ ruling that XRP, when sold to retail investors, is not a security.

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