SEC makes it difficult for Ripple before Mr. Trump takes office!
The SEC has just filed an appeal to the appellate court, requesting to overturn the ruling from July 2023 that XRP transactions on exchanges are not securities. They argue that the expectation of profits by investors does not depend on the identity of the seller but rather on Ripple's efforts to increase the value of XRP.
Additionally, non-cash transactions, such as salary payments or promotions, are also considered violations of the law by the SEC.
The news comes as XRP just hit a historic ATH of $3.20, causing the coin to immediately drop back below $3.
If the appeal is successful, XRP may decline significantly.