Last week, the U.S. Securities and Exchange Commission (SEC) filed an appeal in the case against Ripple Labs. This came as a surprise to many, as the SEC's chances of winning are slim. 📉

The price of XRP fell more than 12% on the news, which surprised many traders. Attorney Fred Rispoli believes that the SEC's success depends on the composition of the panel of judges. If they are inclined to support the government, the chances of winning could be as high as 70-80%.

The SEC has not yet specified what part of the decision it is challenging, which will also affect the outcome of the case.