Ripple Labs, the company behind the cryptocurrency XRP, has announced its decision to file a counter-appeal against the U.S. Securities and Exchange Commission's (SEC) appeal. This move comes after a U.S. court ruled that XRP tokens sold in the secondary market are not considered securities. In March 2023, District Judge Analisa Torres ruled in favor of Ripple, stating that the SEC had failed to prove that XRP was a security at the time of its initial sale. The SEC subsequently filed an appeal in May, arguing that the judge had erred in her ruling. Ripple's decision to counter-appeal sets the stage for a lengthy legal battle between the two parties. The outcome of the case could have significant implications for the cryptocurrency industry, as it would clarify whether XRP and other digital assets are considered securities under U.S. law.