Ripple filed a "counter-appeal" on October 10, 2024, in response to the recent appeal by the U.S. Securities and Exchange Commission (SEC). Now both appeals will be considered in one case.
Ripple disputes the court's ruling that the sale of XRP tokens to investors did not violate securities laws. Furthermore, the appeal concerns the court's order for Ripple to pay $125 million for selling XRP to investors, which is significantly less than the SEC's original demand of $2 billion but significantly more than Ripple's offer of $10 million.
Ripple's chief legal officer, Stuart Alderoty, expressed confidence that Ripple will win the case, despite the SEC's attempts to argue that XRP sales on exchanges and its distribution among employees and developers should be treated as a security.