Ripple has filed a motion requesting the court to deny the SEC’s certification request for an immediate appeal of a recent court ruling that went against the regulator in its case against the firm.
The court ruled in July that automated open market sales of Ripple’s cryptocurrency XRP to the general public did not constitute securities sales because it failed to meet all four prongs of the Howey Test — the standard used to judge whether an asset should be classified as a security.
Ripple’s legal team argued in the filing that the court should reject the SEC’s certification request as it does not meet the exceptional requirements needed to secure approval for an interlocutory appeal.
For the appeal request to be approved, the SEC has to prove that a different judge would disagree with the ruling and, or, the appeal would expedite the case so a conclusion can be reached sooner. However, the lawyers claim the SEC has not proven that different judges could disagree with the ruli

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