Lawyer: Res judicata ends SEC v Ripple; July 2023 ruling found XRP not a security
Australian-based lawyer Bill Morgan said on January 18, 2026 that res judicata blocks the SEC from re-litigating whether XRP is a security and Ripple's 2013–2020 sales. He cited Judge Analisa Torres's July 2023 ruling that XRP itself is not an investment contract, adding that any future action would be limited to post-2020 sales and constrained by issue preclusion.