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A significant development has occurred in the long-standing XRP case between Ripple 
$2 and the U.S. Securities and Exchange Commission (SEC). Ripple has submitted a cross-appeal in the case, presenting Form C. Ripple’s Chief Legal Officer, Stuart Alderoty, indicated that the focus of the case will not only be on whether XRP is a security but also on the scope of the SEC’s claims.
Ripple’s Cross-Appeal Submission and Objectives
Ripple’s cross-appeal serves as a response to the SEC’s allegations regarding XRP’s classification as a security. Alderoty emphasized that during previous hearings, the SEC had not classified XRP as a security, and the court had determined that XRP was not a security like Bitcoin 
$104,810. This new submission from Ripple aims to address the SEC’s primary claims from a broader perspective.
The cross-appeal by Ripple demonstrates a strong stance against the SEC’s allegations. The request has been made to extend the court proceedings until January 2025. Additionally, Ripple stated that the SEC would not be able to present new evidence during the appeal, and existing files would be the basis of the case.
Comments from the Crypto Community and Ripple’s Future Strategy
In discussions regarding XRP’s legal status, crypto attorney John Deaton highlighted a notable donation of one million XRP made by Ripple’s founder Chris Larsen to Kamala Harris’s campaign. Deaton also commented on the SEC’s criticisms and lawsuits against companies like Coinbase, finding the SEC’s stance on the crypto sector to be contradictory.
Ripple’s CEO, Brad Garlinghouse, expressed his expectation of a significant reset and regulatory process in the crypto market, independent of U.S. election results. He stated, “Regardless of what happens, we will see a reset and make progress,” indicating optimism about resolving regulatory uncertainties in the crypto world.
Ripple aims to continue expanding its business during the appeals process and maintain a strong position in the crypto market. Alderoty called for a focus on the community, adding that the SEC’s strategies could be distracting.
As the case moves to the appeals court, significant outcomes are anticipated for all parties involved. The court will publish a timeline for consolidating the files and scheduling statements, with the process led by district court case numbers 24-2648. Despite regulatory pressures, Ripple aims to reassure the crypto community of its commitment to growth.
