The SEC has filed an appeal seeking to overturn a court ruling that distinguished between institutional and retail XRP sales, arguing that all XRP transactions should be classified as securities under the Howey test,

XRP has once again hit a new milestone, breaking $3 for the first time in since 2018 even as the SEC filed an appeal in its case against Ripple.

The SEC appeals a court ruling on XRP classification, challenging its non-security status in sales, and argues Ripple's contract violations.

The XRP price pumped more than 8% to above $3 for the first time since 2018 as Ripple chief legal officer Stuart Alderoty said the US Securities and Exchange Commission (SEC) lawsuit against the company has become “just noise.” XRP soared to as high as $3.18 in the past 24 hours, but has since pared gains to trade at $3.06 as of 3:02 a.m. EST.

The SEC asserts that labor and services received in exchange for XRP satisfy the “investment of money” criterion outlined in the Howey framework. Ripple’s legal team has consistently rejected the SEC’s claims, maintaining that XRP is a digital currency, not a security.

Ripple’s XRP has reached a major milestone, almost touching the $3 mark for the first time since 2018, signaling a significant price surge for the token. The coin has surged more than 15% in the past 24 hours,