The SEC Wednesday filed to appeal a 2023 court ruling that XRP is not considered a security when sold to retail investors on exchanges.

Investors await the SEC filing for details of its appeal. Price trends will likely hinge on speculation about the SEC’s appeal strategy and the court filing. If the SEC appeals the Programmatic Sales of XRP ruling, XRP could drop toward $0.40.

The US Securities and Exchange Commission appealed a court decision ordering Ripple Labs Inc. to pay a $125 million civil penalty for improperly selling its XRP token, a fraction of the $2 billion the regulator sought in a long legal battle with the cryptocurrency company.

The SEC's recent appeal in the Ripple case puts the future of the XRP ETF and Ripple's market status in doubt.

Ripple (XRP) broke down from an ascending support trend line. The price also decreased under the $0.55 horizontal area. Is the correction over, or will

XRP, the native token of Ripple, experienced a significant decline of over 12% on Thursday, dropping to 51 cents per coin, following the US Securities and Exchange Commission’s (SEC) announcement to appeal a pivotal court ruling.