Cryptocurrency matters always seem to linger without any resolution. The long-standing legal battle between the United States Securities and Exchange Commission (SEC) and Ripple has yet to reach a conclusion. However, Judge Sarah Netburn has recently set a schedule for the latest motion in the case.
Latest Updates in the XRP and SEC Case
On April 26, defense attorney James K. Filan revealed that Judge Netburn has issued a scheduling order regarding Ripple’s Motion to Dismiss the SEC’s Compensation and Final Decision Request. According to a former federal prosecutor and popular commentator, the securities regulator has until April 29, 2024, to respond to Ripple’s motion. After that, the blockchain company will have an additional three business days to reply.
Ripple had previously criticized the SEC’s “new expert opinions by Andrea Fox” and requested their dismissal, referring to them as poorly timed “sandbags.” These opinions were evaluated by Ripple and deemed unworthy of consideration.
Furthermore, Ripple has objected to the SEC’s Preliminary Injunction and Final Decision Request, which alleges $2 billion in damages due to corporate XRP sales. Ripple argues that the SEC cannot provide evidence of future violations or disregard of the law.
The crypto community has expressed satisfaction with Judge Netburn’s appointment as a U.S. District Judge for the Southern District of New York. XRP advocate attorney Bill Morgan has praised her decisions in the Ripple v. SEC case and believes she is deserving of the position.
XRP’s Current Dollar Value
Despite the ongoing legal battle and uncertainties surrounding Ripple, its native token XRP is currently trading at $0.5172, reflecting a 0.60% decrease at the time of writing.
Over the past month, XRP has experienced a 16% drop in value. However, there has been a 3% increase in the past week.
XRP’s market capitalization has fallen to $28.5 billion, while the trading volume remains at $1.1 billion, despite a 20% decrease.
Disclaimer:
This article does not provide investment advice. Investors should be aware of the high volatility and risks associated with cryptocurrencies and should conduct their own research.
