Ripple Labs announced that it will file a cross-appeal against the U.S. Securities and Exchange Commission (SEC) to maintain its legal defense. The SEC has appealed against Ripple, and the case has been ongoing since December 2020. Ripple Chief Legal Officer Stuart Alderoty said the cross-appeal is intended to ensure that the company retains its arguments, especially regarding the fundamental rights of investment contracts.

In July 2023, the judge ruled that Ripple's sale of XRP to exchanges did not violate federal securities laws and determined that XRP is not a security. Ripple will submit detailed arguments in the coming weeks, and the SEC's appeal brief is expected to be completed by the end of January. Alderoty emphasized that the industry needs lawmakers to provide policy solutions rather than relying solely on court rulings.