Members of the Holmesdale Fanatics travelled to UEFA's headquarters in Nyon, Switzerland, to hand-deliver a letter to president Aleksander Ceferin demanding the ruling be overturned.
The fan group also presented UEFA with a suitcase of fake money, symbolising perceived contradictions in the organisation's values and conduct.
Following the protest, Palace lodged an appeal against UEFA, Nottingham Forest, and Lyon with the Court of Arbitration for Sport (CAS), with a decision anticipated by 11 August.