Ripple vs. SEC Appeal Deadline Extended: What It Means for XRP Price

In a turn of events, an update dropped a bombshell on XRP enthusiasts. We recently reported that there is a confusion going on among the community regarding the deadline for the SEC to file the Form-C. Even attorney Jeremy Hogan was unsure when the due date was. And as one would image, this has created some turbulence.

Let’s uncover what new update came to light.

Clearing Up SEC Appeal Confusion

Fox Business journalist Eleanor Terrett shared a court document linked to the Ripple vs SEC case. While the SEC did submit its initial appeal after the August 7 ruling, it wasn’t officially added to the docket on the same day.

The United States Court of Appeals for the Second Circuit has now cleared up the confusion. According to the docket, the SEC’s notice of appeal was officially filed on October 4 under docket number 24-2648.

Understanding the Updates

This new information changes what many in the XRP community thought. Earlier, excitement boosted XRP’s price by 4%, as many believed the SEC had until October 16, 23:59, to submit Form C. With no updates in sight, many thought the deadline had passed, and they began celebrating, assuming the SEC had missed its chance to appeal.

However, according to the docket, the SEC actually has until October 18, 23:59, to submit the form.

Once this clarification surfaced, XRP’s price dropped quickly, falling by over 1%. The token is now trading at $0.5576.

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Key Dates to Watch Moving Forward

The SEC must submit its Form C, detailing which rulings it wants to challenge, by October 18. Ripple will then have 7 days to file its cross-appeal. After both forms are submitted, the parties will need to agree on a briefing schedule. The SEC will have 90 days from that point to file its opening brief, outlining its legal argument.

If the SEC files the Form C, this case could stretch into mid-2025.

Is this a setback for XRP, or a chance for a fresh start? Tell us how you view this.