Ripple’s Chief Legal Officer, Stuart Alderoty, has provided a significant update on the company’s ongoing legal battle with the U.S. Securities and Exchange Commission (SEC). In an interview with Fox Business, Alderoty revealed that the SEC must submit its pre-argument statement (Form C) today, marking a pivotal step in the appeal process. This filing is expected to shed light on the SEC’s legal strategy, stirring speculation across the crypto community.
SEC Form C Submission Sparks XRP Market Buzz
The SEC’s notice of appeal, submitted earlier this month, triggered volatility in XRP’s market, leading to a steep decline in its price. Ripple has responded by filing a cross-appeal, with its own Form C expected to follow seven days after the SEC’s submission.
Once both forms are filed, the parties will negotiate a briefing schedule that lays out the next phase of legal proceedings. According to standard procedure, the SEC will have approximately three months to submit its first legal brief, outlining the foundation of its case. Ripple will then issue a counter-brief, setting the stage for what is shaping up to be a long-drawn legal confrontation.
Ripple’s Legal Team Remains Optimistic Despite Challenges
Alderoty hinted that the SEC might focus its appeal on Ripple’s XRP sales across exchanges, a point of contention that has been central to the case. Despite the SEC’s aggressive approach, Ripple’s legal team maintains confidence in their position, asserting that the regulator’s case lacks strength.
However, crypto attorney Fred Rispoli cautioned that the outcome could hinge on the composition of the judicial panel assigned to the case. If the panel includes judges sympathetic to the SEC’s arguments, Ripple could face significant setbacks, increasing the stakes for both sides.
Also Read: Ripple Fights Back – Cross-Appeal Filed Against SEC’s $125M Ruling Amid $2B Aspirations
Case Could Drag On Until 2026, Ripple Faces Uncertain Future
The central issue in this legal battle is whether XRP should be classified as a security under U.S. law. With both Ripple and the SEC preparing to present their arguments in full, the proceedings are likely to take months, if not years, to resolve. Analysts predict that the case could extend into 2026, leaving Ripple and XRP in a cloud of uncertainty for the foreseeable future.
As the SEC submits its Form C today, the stakes in Ripple’s legal battle have never been higher. While Ripple’s legal team remains confident, much will depend on the judicial process and the strength of each side’s arguments. For XRP holders, the ongoing case continues to weigh heavily on market sentiment, underscoring the unpredictable nature of regulatory battles in the cryptocurrency space.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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