As the SEC lawsuit against Ripple nears a critical phase, Ripple co-founder Chris Larsen is taking steps to protect XRP from further regulatory measures.

Chris Larsen’s Strategic Filing

Larsen recently made a key filing days before the critical deadline for submitting Form C in the ongoing legal battle with the SEC. By submitting this notification, Ripple aims to prevent issues that could arise from cross-appeal processes and ensure the security-related classification of XRP remains settled. This move positions Larsen and Ripple to take a more decisive stance in the company’s legal defense.

Ripple’s Cross-Appeal Filing

Ripple’s cross-appeal seeks to put an end to the SEC’s enforcement efforts once and for all. Led by attorney Stuart Alderoty, Ripple’s legal team argues that the SEC’s attempts to overturn the previous ruling which stated XRP is not a security are unlikely to succeed. Alderoty emphasized that the court’s decision is now the 'law of the land,' and noted that for the SEC to win its appeal, it would need to prove that Judge Analisa Torres’s ruling was not made with 'ordinary intelligence.'

Critical Form C Deadline on October 24

The next important step for Ripple is submitting Form C by the midnight deadline on October 24. This document is crucial for Ripple to continue its legal battle. Failing to file on time could hinder the company’s ability to present further oral arguments. However, Ripple is well-prepared and has taken all necessary precautions to meet this deadline, ensuring they are ready for any potential scenarios in the case.

Despite ongoing legal uncertainties, the XRP community remains optimistic. A favorable outcome for Ripple could lead to a significant price surge for XRP and set a precedent for how other cryptocurrencies are classified and regulated.