The price of XRP is down 2% over the past day, currently trading at $0.5467. XRP rallied to a two-week high of $0.5612 on Thursday but has since lost those gains. The reversal comes as the SEC officially documents details of the rulings in the Ripple case that it chose to appeal.
On October 17, the SEC submitted the required Form C statement to the U.S. Court of Appeals for the Second Circuit. According to the SECâs Form C filing, the regulatory body is challenging Judge Analisa Torresâs ruling that Rippleâs XRP sales on exchanges do not constitute investment contracts.
The SEC is also seeking to revive its âaiding and abettingâ charges against executives Chris Larsen and Brad Garlinghouse, which were initially dropped. Furthermore, the SEC is contesting the courtâs verdict on Rippleâs use of XRP as a payment method.
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