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XRP‘s price surged on October 17, climbing by 3.85% to a two-week high of $0.566, amid speculation that the U.S. Securities and Exchange Commission (SEC) might have missed a key court filing deadline in its lawsuit against Ripple. This price increase contrasts with the broader crypto market, which saw a 1% decline during the same period.
The bullish momentum stems from rumors that the SEC may have failed to file the necessary forms for its appeal of Judge Analisa Torres’ August ruling by the October 16 deadline. If confirmed, this misstep could lead to the dismissal of the SEC’s appeal, weakening its case against Ripple and providing a significant boost to XRP.
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However, Fox Business journalist Eleanor Terrett pointed out that the SEC might still have until October 18 to submit the forms, as the agency’s appeal, filed on October 2, wasn’t officially docketed until October 4.
In addition to the legal developments, the rise in XRP’s price follows the October 15 debate between crypto advocate and Republican nominee John Deaton and Senator Elizabeth Warren. Deaton criticized Warren for focusing on her “anti-crypto army” rather than addressing economic issues like illegal immigration and inflation affecting Massachusetts residents.
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