The US Securities and Exchange Commission (SEC) has once again challenged Ripple by filing an appeal against a 2023 court decision, leading to a significant drop in XRP's price.

SEC’s Appeal

This week, crypto news once again focuses on Ripple as the SEC appealed Judge Torres's 2023 decision that excludes secondary XRP sales from securities sales categorization. Ripple's management said they were not surprised, but the price of XRP immediately dropped from over $0.6 to around $0.51, later recovering to $0.53.

Potential XRP ETF

There is ongoing speculation in the crypto community about a potential XRP ETF following the launch of similar funds for Bitcoin and Ethereum. Bitwise recently filed in Delaware for a spot XRP ETF. However, it has not yet filed with the SEC, leaving the prospects of an XRP ETF unclear.

Future of SEC vs. Ripple Case

Despite numerous challenges, the SEC continues its crusade against Ripple. In 2024, a ruling was made requiring Ripple to pay a $125 million penalty instead of the $2 billion the SEC demanded. The final resolution of this years-long conflict is still ahead.

The ongoing battle between the SEC and Ripple continues to create market volatility and raises new questions about the future of XRP and the wider cryptocurrency industry.