Ripple Labs is filing a cross-appeal in its ongoing case against the U.S. Securities and Exchange Commission (SEC). The company wants to maintain its legal defenses as the SEC's own appeal in the case progresses. Ripple's cross-appeal aims to preserve its points and arguments in the case, particularly the claim that there cannot be an investment contract without the essential rights and obligations of a contract. In July 2023, District Judge Analisa Torres ruled that Ripple's sales of XRP did not violate federal securities laws, and XRP was not deemed a security. Both the SEC and Ripple will submit more comprehensive arguments in the future, with the SEC's brief potentially coming at the end of January. Ripple's opening brief will follow. Ripple's Chief Legal Officer stated that a policy solution from legislators is needed, but in the absence of one, the company is prepared to continue fighting in court to bring clarity to the industry through the litigation process.



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