XRP Price Analysis: Ripple CLO Shares Key Updates in SEC Appeal – Will This Boost XRP?
Harvey Hunter is a Junior Content Creator at Cryptonews.com. With a background in Computer Science, IT, and Mathematics, he seamlessly transitioned from tech geek to crypto journalist.
Over the past 24 hours, the XRP price has remained relatively stagnant, rising just 0.84%.
This slowed pace comes as Ripple Chief Legal Officer Stuart Alderoty expressed doubts that the lengthy legal battle between Ripple and the SEC is anywhere near a conclusion.
Indeed, this second circuit of the Ripple SEC case has ground price movement to a halt.
While other notable altcoins have ridden the bullish wave seen since last Wednesday, XRP has crawled, up only 2.04%.
With this lackluster price action, XRP isn’t exactly hot among investors.
However, today’s news has garnered some attention, with an 8.65% boost in trading volume to $1.21 billion.
In an interview with Fox Business, Alderoty set a timeline for the U.S. Securities and Exchange Commission’s appeal against Ripple.
According to Alderoty, the SEC has until October 17th to file a 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, presenting additional information about its cross-appeal.
After this, both entities will agree on a briefing schedule. The SEC will have 90 days to file its first brief, and Ripple will respond shortly after.
However, Alderoty cautioned that he “expects them to take the full 90 days.”
Overall, Alderoty expects the full briefing process to “go through July 2025.”
Despite the lengthy timeline, he offered grounds for optimism, claiming to “feel even better about our case in the Second Circuit.”
The move to appeal Ripple has staggered XRP’s impending breakout as it affirms a 4-year
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