The ongoing case between Ripple and the SEC has sparked confusion, as reports spread across social media regarding the deadline for the SEC’s appeal submission. Initial claims suggested that the final date was October 16, leaving many XRP investors wondering whether the SEC had missed the deadline. However, Fox Business reporter Eleanor Terrett clarified that the official date for the filing is October 18.
Details of the Appeal in the Ripple-SEC Case
There had been uncertainty surrounding the official filing deadline, with many believing it to be October 2, making October 16 the final date for submission. The new information reveals that the appeal was filed on October 4, which extends the deadline for the SEC to submit further documents until October 18.
This delay created a temporary surge in XRP’s value, as some investors thought the SEC might be backing out of the case. However, following the confirmation of the October 18 deadline, XRP saw a slight drop of 1%.
SEC Still Has Time to Appeal
While many speculated that the SEC might have missed its chance, it still has time to submit its appeal by the official October 18 deadline. Once the SEC files, Ripple will have a seven-day window to respond. After this period, both parties will need to agree on a schedule for the case to proceed. The SEC could then gain an additional 90-day briefing period.
The Case Could Extend Until 2025
Given the legal back-and-forth, experts now predict that the final resolution of the Ripple-SEC case may not arrive until the end of 2025. Investors are urged to stay patient as both sides work through the appeals process.
The ongoing developments in this high-profile case will continue to influence XRP’s value, with both parties expected to shape the future of the cryptocurrency market.
