Here’s what to expect in the next 8 days in the Ripple vs. SEC litigation

TL;DR

• The SEC must resolve its appeal in the Ripple case by October 17, with the full briefing process possibly extending until July 2025.
• Despite the ongoing legal battle, analysts remain confident about the future of XRP, especially if the price of Bitcoin rises.

What’s next?

The protracted legal battle between Ripple and the US Securities and Exchange Commission (SEC) appears to be ongoing not by a long shot its end after the regulator Appealed a 2023 ruling by Judge Analissa Torres. At the time, it ruled that secondary sales of XRP were not sales of securities.

Earlier this week, X user Ashley PROSPER claims The SEC has until today (October 16) to reveal what it is Strictly speaking appeal against it. Interestingly, the deadline marks the end of Ripple Swell (the company’s annual flagship event, which took place in Miami, Florida this year).

Most recently was Eleanor Terrett (née popular Fox Business journalist) spoke with Stuart Alderoty (CLO of the company), who sketched “An overview of the appeals schedule.” According to the executive director, the regulator has until October 17 to file Form C, “which will contain some details about what it intends to appeal.”

Ripple will then have seven days to submit its own Form C containing additional information about it own Cross-appeal.

After that, both companies will work out a briefing schedule. The SEC has 90 days to submit its initial letter and Ripple will respond shortly thereafter.

“Alderoty says he expects them to take the full 90 days. This opening letter will be a complete recitation of any legal arguments the SEC will make,” Terrett said.

Ripple’s CLO expects the full briefing process to take until July 2025. Some X users who commented on the post expressed frustration with the lawsuit the most probably It will drag on for a few more years, which could create a new sense of uncertainty and depress the price of XRP.

XRP volatility

The recent announcement related to the Ripple vs. SEC case coincides with the shaky performance of the company’s native token. Over the past week, it has fluctuated between $0.52 and $0.55 and is currently worth around $0.53 (according to data from CoinGecko).

Nevertheless, numerous analysts expect good days for XRP. The Moon (an X user with over 1.3 million followers) maintained that the asset “remains strong” and could “regain bullish momentum” should BTC rise above $67,000. Recall that less than 24 hours ago, the main cryptocurrency briefly rose to almost $68,000 and was trading at around $66,800 from now on.