In the case of Ripple (the company behind XRP), the SEC, which regulates securities in the US, felt that the previous decision by the court was wrong. The SEC appealed because it felt that the ruling went against the rules of securities law that had been established for decades by the US Supreme Court. Previously, the judge had ruled that Ripple should pay a fine of $125 million, but the SEC had originally wanted Ripple to be fined much more, around $2 billion. This appeal shows that the SEC wants to overturn that decision because they believe Ripple should be subject to a larger penalty and stricter legal rules.