BTC nears $70,000 on strong ETF inflows, while XRP faces SEC-driven volatility amid Ripple lawsuit developments.

The United States Securities and Exchange Commission’s latest appeal in its case against Ripple doesn’t pose a challenge to the court’s ruling that XRP is not a security. On Oct. 16, the SEC filed a Form C civil appeal with a pre-argument statement against certain aspects of the court’s summary judgment in favor of the defendants in its XRP (XRP)

Ripple chief legal officer Stuart Alderoty says the recent filing by the US Securities and Exchange Commission (SEC) in its case against Ripple Labs does not appeal the ruling that XRP is not a security.

Uncertainty over SEC’s Ripple case appeal drives XRP lower. Market awaits legal developments that may impact XRP listings and adoption.

The SEC has submitted a "Civil Appeal Pre-Argument Statement," also known as Form C, appealing Judge Analisa Torres' ruling on XRP.

The SEC has filed new documents as it continues to seek a reversal of a prior judgment in favor of Ripple Labs.

XRP exchanges hands above $0.55 on Thursday, gains nearly 1%. Market participants digest the confusion over a missed appeals deadline in SEC vs. Ripple lawsuit. SEC spokesperson confirms that the appeal will proceed normally and the documents with legal arguments will be filed publicly soon.

XRP sees volatility as the crypto community speculates about the SEC’s appeal filing delay in the Ripple case.