- The XRP community has speculated about the SEC missing a filing deadline.
- Confusion has surrounded the actual deadline for the SEC’s appeal.
- Ripple’s legal battle with the SEC has continued to impact XRP.
Whispers of the SEC potentially missing a crucial filing have sent ripples through the XRP community. The legal tug-of-war between Ripple Labs and the SEC took an unexpected turn, stirring excitement and uncertainty among investors.
Crypto enthusiasts debated deadlines and dockets, sparking hopes for a swift resolution as the SEC’s appeal faces possible dismissal. Yet, beneath the surface of speculation, the reality of the situation remained complex and layered.
SEC’s “Missed” Deadline Sparks XRP Frenzy
Rumors swirled that the regulator had blown its chance to file Form C in its appeal against Ripple Labs. Many believed the deadline was October 16, tied to the SEC’s initial notice of appeal filed on October 2.
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When the clock struck and no filing appeared, XRP supporters quickly speculated that the court might throw out the appeal, paving the way for a potential end to the years-long legal brawl. The excitement, however, was short-lived. Fox Business reporter Eleanor Terrett dug up court documents revealing that the regulator’s notice of appeal wasn’t officially entered until October 4.
This shifted the deadline to October 18, leaving the regulatory body with more time and taking some wind out of the XRP community’s sails. Attorney Fred Rispoli poured cold water on the excitement, explaining that federal agencies like the SEC often receive considerable leeway from appellate courts regarding deadlines.
Legal Experts Weigh In on SEC’s Leeway
Even if the SEC missed the deadline, courts could allow a late filing, especially for government bodies. Rispoli’s insight threw a wrench in the community’s hopes for a quick victory, reminding everyone that legal proceedings involving regulators are rarely straightforward.
Ripple’s Chief Legal Officer, Stuart Alderoty, also pointed out that the appeals process is expected to stretch on—potentially until 2025 . His revelation reinforces the reality that this legal battle is far from over, despite the fervor within the XRP community.
The Ripple-SEC showdown remains one of the most anticipated legal decisions in the crypto world. The outcome is set to ripple across the broader market, and investors are watching closely, knowing the stakes couldn’t be higher for XRP’s future.
On the Flipside
- The SEC still has until October 18 to file Form C, meaning the appeal remains active.
- Courts often grant extensions or accept late filings from federal agencies.
- Ripple’s own cross-appeal adds further complexity to the case timeline.
Why This Matters
The SEC’s rumored missed filing deadline sparked a wave of excitement, highlighting just how sensitive the XRP market is to legal developments. Even small procedural updates like this can drive major shifts in investor sentiment, reflecting the fragility of regulatory clarity in the crypto space.
To learn more about the legal battle between Ripple and the SEC and its implications for XRP, read here:
Ripple vs SEC Drags On—XRP to Wait Until 2025 for Clarity?
To learn more about Ripple’s challenge to the SEC’s classification of XRP as a security, read here:
Ripple Slams SEC’s ‘Renegade’ Stance on XRP
