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The U.S. Securities and Exchange Commission has decided to&nbsp;<a href="https://pacer.treeofalpha.com/files/551082_978.pdf">appeal</a> the Ripple case.&nbsp;
As <a href="https://u.today/sec-expected-to-appeal-ripple-case-by-agencys-former-lawyer">reported by U.Today</a>, the agency was widely rumored to challenge the court ruling. However, it kept the community in a state of limbo until almost the very last day. The deadline for the SEC's appeal was set for Oct. 7. &nbsp;
Last year, Analisa Torres, a judge for the United States District Court for the Southern District of New York, recognized secondary XRP sales as non-securities. This has been framed as a substantial win for Ripple, but the distinction between programmatic and institutional sales has proven to be quite controversial.&nbsp;
Analysts have spent the last few weeks speculating about whether the agency would eventually make such a move.&nbsp;
Stuart Alderoty, Ripple's top lawyer, previously <a href="https://u.today/ripples-top-lawyer-wont-be-surprised-if-sec-appeals">stated</a> that he would not find the SEC's appeal surprising. However, he is confident that the legal status of the XRP token will not be affected by this action. &nbsp; &nbsp;
The SEC's notice of appeal is, of course, a significant blow to those XRP holders who hoped that the Ripple case would no longer be hanging over them like a sword of Damocles. In August, Judge Torres issued her <a href="https://u.today/ripple-ceo-reacts-to-courts-final-judgement">final judgment</a> in the case.&nbsp;
The price of XRP is down nearly 6%, according to CoinGecko data. This makes it one of the worst-performing cryptocurrencies in the top 100. It is currently changing hands at $0.56. &nbsp;&nbsp;
It should be noted that the existing ruling is <a href="https://u.today/heres-why-xrp-holders-shouldnt-freak-about-sec-appeal">highly unlikely</a> to be altered until 2026. &nbsp;
The SEC's appeal <a href="https://u.today/xrp-etf-allegedly-filed-by-bitwise">coincided</a> with Bitwise, a major crypto asset manager, filing to launch an XRP-based exchange-traded fund. &nbsp;

XRP Price Collapses as SEC Appeals Ripple Case

U_Today

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