Ripple vs. SEC: Missed Appeal Deadline Could End XRP Lawsuit

The U.S. Securities and Exchange Commission (SEC) is nearing the deadline to appeal its case against Ripple Labs, sparking intense speculation within the crypto community. As the October 17 deadline approaches, many wonder if the SEC will follow through with an appeal or allow the deadline to lapse—potentially ending the long-running lawsuit over Ripple’s XRP token.

Appeal Deadline Dispute

An X post from a prominent crypto commentator predicts that the SEC will file its appeal today, October 17. However, the community remains divided on the exact deadline. Some believe the deadline was October 16, based on legal protocol.

Crypto lawyer Jeremy Hogan supports the October 16 date, pointing to the Civil Appeal Pre-Argument Statement, which requires Form C (an appeal form) to be filed within 14 days of the notice of appeal. As of now, the SEC has not filed the necessary paperwork, leaving XRP holders and market watchers anxiously awaiting the outcome.

Ripple’s Victory on the Line

If the SEC fails to file the appeal, it could signal a major victory for Ripple, solidifying the previous court ruling in Ripple’s favor. This would likely have a profound impact on XRP, potentially ending years of legal uncertainty that has hindered its mainstream adoption and growth.

XRP Price Surge

As the deadline looms, XRP has seen a noticeable uptick in price. The token jumped 3.85% earlier today, rising from $0.5456 to $0.5662, surpassing a key resistance level at $0.5551. This increase is seen as a sign of optimism among traders, anticipating that the lawsuit may soon be resolved in Ripple’s favor.

What’s Next for XRP?

If the SEC misses the deadline, any attempt to appeal afterward could be dismissed, potentially marking the end of the case. This could clear the path for XRP’s growth, especially as it attempts to break out from legal constraints that have impacted its price and adoption in recent years. Many in the crypto community see this as a critical moment for the future of XRP and Ripple.

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Disclaimer: This article is for informational purposes only and does not constitute financial advice. The views expressed are those of the author and not necessarily those of CryptoInsider. Readers are encouraged to conduct their own research before making any financial decisions.