In the ongoing XRP lawsuit against the US SEC, Ripple Labs may have filed a notice of withdrawal for its legal counsel. This case has been dragging on for a while, with appeals and cross-appeals from both the SEC and Ripple Labs. Earlier today, the US Court of Appeals for the Second Circuit warned Ripple about a potential procedural failure, serving as a reminder for the blockchain payment company not to exclude its lawyers from future oral arguments.

XRP Lawsuit: Errors and Second Chances

The XRP lawsuit has been moving quickly, and in the past month, there have been two notable procedural errors. Initially, the community speculated that the SEC had failed to file Form C, which would have bolstered its appeal against Judge Analisa Torres' ruling in the Ripple case.

However, the market regulator submitted Form C last Thursday. Now, the tables have turned, with Ripple being in the spotlight over a potential procedural lapse. According to the Second Circuit's notice, Ripple has yet to file its confirmation of legal counsel and a notice of appearance. This document was due on October 18, according to the court.

Unlike the SEC, which met the deadline for submitting Form C, the court has granted Ripple Labs a 14-day extension. If the required document is not submitted in the #XRPlawsuit , Ripple's attorneys may not be allowed to present oral arguments in the appeal case.

Next Steps for Ripple Labs

Ripple Labs has not yet violated any court orders known to the community, and it is unlikely to do so now. When the SEC filed Form C last week, Ripple's CLO, Stuart Alderoty, informed the community that the firm would submit its response this week.

The company has well-defined objectives in the XRP lawsuit. Ripple's leadership has stated that the cross-appeal they filed will help bring an end to the SEC's enforcement tactics. It's also worth noting that the regulator has included crypto assets on its priority list for 2025.

Importance of the Case

This case could play a significant role in shaping the narrative around enforcement actions, which is why its outcome is so important.

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