The Securities and Exchange Commission (SEC) is appealing a 2023 federal ruling that found the XRP token is not a security under securities laws.
Ripple Labs’ digital asset, XRP, lost as much as 11% of its value on Thursday before giving back some of those losses.
The SEC’s appeal is likely to hinder crypto asset manager Bitwise’s filing with the SEC on Wednesday for an XRP exchange-traded fund (ETF).
