Ripple CEO Brad Garlinghouse gave an interview criticizing the SEC's repressive stance. Following the summary ruling recently announced in the lawsuit between Ripple and the SEC, Garlinghouse expressed his displeasure, calling the SEC "bullies". According to the Ripple CEO, the SEC increased its pressure on the industry over the past year, exceeding its intent to protect investors. This is how Garlinghouse described the SEC, with Ripple winning a victory in the ongoing legal process. A federal judge has ruled that XRP sales don't fully fit the definition of a security offering, which is a positive development for Ripple. After this decision, the value of XRP increased greatly and many exchanges relisted XRP. Garlinghouse said in an interview with Bloomberg that the SEC is targeting actors who do not have the power to defend themselves and takes a "bullying" stance. In 2020, the SEC accused Ripple of illegally raising $1.3 billion in connection with XRP sales. A judge has ruled that XRP is not a security on the secondary market but can be considered a security when sold to institutional investors. The SEC and Ripple still have the right to appeal the judge's decision. Garlinghouse stated that the SEC's appeal may take a long time, while emphasizing that the court should use the Howey test when evaluating Ripple's investment contract.