The SEC is appealing the ruling in the lawsuit against Ripple, causing the price of XRP to drop over 13% in the past 24 hours. The appeal focuses on two main rulings regarding Ripple’s offers and sales of XRP. The dispute centers around whether these sales are considered “investment contracts” under the Howey test. The outcome of the appeal could have significant implications for similar cases in the cryptocurrency industry.
AI Sentiment: Negative
