Prominent lawyer Bill Morgan has made a definitive statement on XRP’s legal status following the conclusion of Ripple’s case with the SEC. He stated that the issue of Ripple’s programmatic sales and other distributions “is now res judicata” between the SEC and Ripple, and affirmed that those sales were lawful.
Res judicata refers to a matter that has already been adjudicated and is no longer open to further legal challenge between the same parties. XRP’s status is no longer an unresolved regulatory question, and Morgan notes that it has never been a security.
The issue of Ripple programmatic sales of XRP in the manner sold until 2020 and other distributions, that were not sales to institutions, is now res judicata as between the SEC and Ripple. Those sales and distributions were lawful.
XRP itself was, is, and forever will be, not…
— bill morgan (@Belisarius2020) August 7, 2025
The End of the Legal Battle
On August 7, 2025, the SEC and Ripple jointly filed a stipulation of dismissal with the U.S. Court of Appeals for the Second Circuit, formally terminating both the Commission’s appeal and Ripple’s cross-appeal.
By withdrawing the appeals, the parties foreclosed further appellate review of the district court’s earlier determinations, including the pivotal court ruling that sales on public exchanges did not constitute securities transactions.
Morgan concentrated his commentary on the legal consequences of the dismissal for XRP’s classification and the conduct adjudicated in the litigation. He stated, “XRP itself was, is, and forever will be, not a security.” Notably, Ripple’s Chief Legal Officer Stuart Alderoty reiterated this point throughout the final two years of the legal battle, reminding the community that the court’s decision stands as the “law of the land.”
Morgan also directly challenged Bitcoin maximalists, specifically naming Michael Saylor, who is strongly linked to Bitcoin. He criticized their assertion that XRP and other altcoins should automatically be classified as securities, and added, “go fuck yourselves.”
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Where Does XRP Go Now?
A few weeks ago, Ripple CEO Brad Garlinghouse appeared before the U.S. Senate and reaffirmed that XRP is not a security. The end of the legal battle has cemented its status. Morgan congratulated those who remained steadfast throughout the lawsuit and the preliminary investigation, which is believed to have lasted about two and a half years before the case was filed, bringing the total duration to seven years.
The practical effect for Ripple and XRP holders is meaningful. The joint dismissal removes a central point of legal uncertainty. It permits Ripple to pursue commercial objectives without the immediate overhang of legal proceedings.
With the matter now closed and XRP officially confirmed as not a security, those who remained committed through the lengthy battle can look forward to enjoying the benefits of greater market confidence and growth in both adoption and value.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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