The US Securities and Exchange Commission (SEC) appealed against the Ripple ruling, leading to increased interest in XRP. This news came just before the US elections and has stirred reactions in the crypto market.

SEC Appeal and Its Consequences

On October 20, the SEC appealed the 2023 ruling that stated XRP is not a security. The commission seeks $2 billion in damages, as opposed to the $125 million Ripple was ordered to pay. Following this news, XRP fell by 11% on October 3.

Rising Interest in XRP

Despite the appeal, interest in XRP rose by 0.30% over the last 24 hours, currently priced at $0.5457 with a market cap of $30.96 billion and a trading volume of $1.32 billion. Trading volume has surged by 107% since the SEC filed the appeal, indicating a renewed interest in the cryptocurrency.

Expert Opinions and Potential Outcomes

Ripple Chief Legal Officer Stuart Alderoty suggests that a successful appeal might lead to a remand back to Judge Analisa Torres. However, some experts fear potential XRP delisting from US exchanges if the court sides with the SEC. By October 20, XRP recovered 0.58% and traded at $0.5680, closing above $0.55 for the first time since October 1.

The SEC's appeal against Ripple continues to generate significant attention towards XRP, creating market volatility. The future developments will reveal their impact on other crypto projects and the SEC's stance in the industry.