Last week, the US Securities and Exchange Commission filed an appeal in the case against Ripple Labs. This unexpected move led to a significant drop in XRP's value. In this article, we examine the details of the appeal and its potential implications for Ripple.

SEC Appeal: Details and Context

The US Securities and Exchange Commission decided to appeal Judge Torres' decision, which classified institutional XRP sales as investment contracts but not programmatic sales on exchanges. Additionally, the fines claimed by the SEC were reduced by more than 90%.

Market Reaction to the News

Following the news of the SEC's appeal, XRP's price dropped by more than 12%. This came as a surprise to many traders, given the perceived low chances of success for the appeal.

Attorney's Analysis: Odds of Success

Attorney Fred Rispoli discusses the possible chances the SEC has in its appeal. He pointed out that the likelihood of success will largely depend on which judges are assigned to the case panel. 'If there is a panel with a history of agreeing with the government, the SEC's chances could rise significantly, possibly to 70-80%.

While the market cautiously reacts to the SEC's appeal, it remains unclear which part of the decision is being appealed. The outcome could impact the future of XRP and the broader crypto industry.