On April 14th, 2021, the United States District Court for the Southern District of New York granted the Securities and Exchange Commission’s (SEC) motion for an interlocutory appeal in the Ripple-XRP case. This decision is a major development in the ongoing legal battle between Ripple and the SEC.

The SEC had filed a lawsuit against Ripple and two of its executives in December 2020, alleging that the company had sold unregistered securities in the form of its XRP tokens. Ripple has argued that XRP is not a security and that the SEC’s case is without merit. The court has yet to rule on the merits of the case.

The SEC’s motion for an interlocutory appeal was filed in February 2021. The motion sought to appeal a ruling by the district court denying the SEC’s request for a preliminary injunction against Ripple. The SEC argued that the district court’s ruling was in error and should be overturned.

The district court granted the SEC’s motion, allowing it to appeal the ruling to the Second Circuit Court of Appeals. This is a major development in the case as it allows the SEC to challenge the district court’s ruling before a higher court.

The appeal will likely take several months to resolve, and it is unclear how it will affect the overall case. However, it is clear that this decision will have a major impact on the future of Ripple and its XRP tokens. The outcome of the appeal could determine whether or not XRP is a security and whether or not Ripple violated securities laws.

This decision is a significant development in the Ripple-XRP case and could have far-reaching implications for the cryptocurrency industry as a whole. It remains to be seen how this case will ultimately be resolved, but it is clear that this decision will have a major impact on the future of Ripple and its XRP tokens.