Stuart Alderoty, Ripple’s Chief Legal Officer, revealed that the company has formally opposed the SEC’s request for an interlocutory (interim) appeal. Ripple has countered the SEC’s claim about XRP’s value and emphasizes its utility as a bridge currency for cross-border transactions. After a ruling that Ripple’s programmatic sales of XRP did not violate securities law, the SEC sought approval for an interlocutory appeal. The agency argues that its quest is a purely “legal question”. However, the crypto community perceives that this is a desperate bid by the SEC.