The XRP community is busy speculating about the SEC potentially missing a crucial filing deadline.
Some community members have suggested that the agency was supposed to file its pre-argument statement (Form C) on Wednesday.
Failing to meet this deadline would allegedly result in the dismissal of the appeal.
However, the SEC's notice of appeal, which was originally filed in the U.S. Court of Appeals for the Second Circuit on Oct. 2, was not docketed until Oct. 4.
Alex DovbnyaThe real deadline for filing Form C appears to be Oct. 18, which means that the SEC still has two days.
Moreover, as noted by attorney Fred Rispoli, federal agencies typically give "a lot of leeway" to federal agencies. "Even a lame excuse from the government is likely enough to allow the Court to let it slide," he said.
The XRP community is eagerly awaiting the form since it is expected to potentially clarify what exactly the SEC is going to appeal.
Of course, there has been plenty of speculation regarding the appeal, and the SEC has yet to bring some semblance of clarity to the table.
As reported by U.Today, Rispoli recently predicted that the agency might go as far as challenging XRP's legal status even though Stuart Alderoty, Ripple's top lawyer, previously stated that the July 2023 court ruling was consistent with the law of the land.
The attorney predicted that such an effort by the SEC would likely fail, but this will not stop the agency from potentially adding a few paragraphs regarding XRP's legal status in its appellate brief.
The SEC will be given roughly three months in order to submit its opening brief, according to a recent update regarding the appeal's timeline shared by Alderoty.
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