Kenne Michael 
The ruling, which was issued on Tuesday in federal court in Manhattan, represents a turning point in the ongoing legal conflict between the SEC crypto appeal and Ripple.
The SEC crypto appeal required permission from Judge Torres to appeal her ruling because it was not a final decision.
In addition, the SEC crypto appeal sought to suspend its suit against Ripple, which alleges the offering of unregistered securities, during the appeals process.
Following the denial of the SEC crypto appeal’s request to appeal, the price of Ripple’s XRP token rose by as much as 6.3%.
It eventually settled near 54 cents as of 7:20 p.m. in New York on Tuesday.
This decision brought solace to XRP investors and marked a 58% year-to-date increase for the token, outpacing the 33% increase in a benchmark index of the top 100 digital assets.
Judge Torres’s decision was primarily viewed as a victory for the cryptocurrency industry, which has steadfastly opposed the classification of digital assets as securities subject to regulatory supervision.
In her 13 July decision, Judge Torres distinguished between sales of XRP to institutional investors, which she determined were subject to federal securities law, and sales to the general public on cryptocurrency exchanges.
Ripple had vehemently opposed the SEC crypto appeal’s request to appeal, contending that the agency was rushing the process and addressing a legal question with far-reaching consequences for the entire digital asset industry.
