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)

SEC has filed Form C to meet the deadline of its appeal following its Notice of Appeal in the case against Ripple.

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

XRP responds positively after the SEC missed a key deadline for its appeal filing to challenge previous ruling in regards to XRP's status as a security.

While the SEC isn't contesting the ruling that XRP sales to retail investors aren't securities, it is instead focusing on other key aspects.

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

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.