$XRP "XRP Crash: Ripple’s Fight with SEC Deepens After Latest Appeal

XRP has dropped by 10.77 % following the SEC's appeal in the ongoing lawsuit against Ripple. On October 2, the SEC challenged the 2023 ruling that determined XRP is not a security under the Howey Test. Ripple’s Chief Legal Officer, Stuart Alderoty, called the appeal "disappointing but unsurprising," reaffirming the company’s commitment to fighting the SEC's continued legal actions against the crypto sector. Ripple CEO Brad Garlinghouse also responded, stating that despite the "misguided and frustrating" appeal, XRP's non-security status remains unchanged. XRP’s price fell from $0.60 to $0.53, marking a three-week low.