The dust has settled from last week's SEC v. Ripple decision and a few things have become clear. First, even though the SEC prevailed on some issues, the overall ruling was an enormous victory for Ripple as the price of XRP tokens—which the company holds gobs of—has gone bonkers. Second, the decision is a win for the broader crypto industry as other major tokens are still up by double digits. Some of this irrational exuberance is from "to the moon" imbeciles, but not all of it—many serious investors have taken a careful look at the judge's decision and like what they see.
The big question now is: What's the SEC's next move? Lawyers are divided on whether the agency will appeal the judge's decision and try to stuff the "XRP is not a security" conclusion back in the bottle, or instead slink away and try defeat the crypto industry on a different legal front. There's a case to be made for both approaches.
