Here’s what to expect in Ripple’s lawsuit against the SEC in the next 8 days

TL;DR

The SEC must clear its appeal in the Ripple case by October 17, and the full reporting process could stretch until July 2025. Despite the ongoing legal battle, analysts remain hopeful about the future of XRP, especially if the price of Bitcoin rises. what’s next

The long legal battle between Ripple and the US Securities and Exchange Commission (SEC) does not seem close to its end after the regulator appealed a 2023 verdict handed down by Judge Analissa Torres. It then ruled that secondary sales of XRP did not constitute sales of securities.

Earlier this week, X user Ashley PROSPER claimed that the SEC has until today (October 16) to reveal what it is actually appealing against. Interestingly, the deadline marks the end of Ripple Swell (the company’s annual flagship event held this year in Miami, Florida).

Most recently, Eleanor Terrett (a popular reporter for Fox Business) spoke with Stuart Alderoty (CLO of the company), who described “a summary of the timeline of the appeals.” According to the executive, the watchdog has until October 17 to file Form C, “which will give some level of detail about what it plans to appeal.”

Ripple will then have seven days to file its own Form C, which will present additional information on its own cross-appeal.

After that, both entities will join hands in an informative calendar. The SEC will have 90 days to file its first brief, and Ripple will respond shortly thereafter.

“Alderoty says it expects it to take the full 90 days. This opening brief will be a complete recitation of all the legal arguments the SEC will make,” Terrett said.

Ripple’s CLO expects the full disclosure process to take until July 2025. Some X users commenting on the post expressed frustration that the lawsuit will likely drag on for several more years, which could add a new dormant uncertainty and suppress the price of XRP. .

XRP Volatility

The latest announcement related to Ripple’s case against the SEC coincides with the shaky performance of the company’s native token. Last week it was between $0.52 and $0.55 and is currently worth around $0.53 (according to CoinGecko data).

XRP Price, Source: CoinGecko

Despite this, numerous analysts predict good days ahead for XRP. The Moon (an X user with over 1.3 million followers) maintained that the asset “remains strong” and could “regain bullish momentum” if BTC were to soar above $67,000. Recall that the major cryptocurrency briefly rose to nearly $68,000 less than 24 hours ago, trading around $66,800 as of now.

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