Cryptocurrency disputes are notorious for their indefinite nature, and the ongoing legal battle between the United States Securities and Exchange Commission (SEC) and Ripple is no exception. However, Judge Sarah Netburn has recently taken steps to move the case forward by setting a schedule for the latest motion.
The latest development in the XRP and SEC case came in the form of a scheduling order issued by Judge Netburn in response to Ripple’s Motion to Dismiss the SEC’s Compensation and Final Decision Request. Defense attorney James K. Filan revealed this information on April 26, stating that the SEC has until April 29, 2024, to respond to Ripple’s motion. Following the SEC’s response, Ripple will then have an additional three business days to reply.
It’s worth noting that Ripple had previously challenged the SEC’s “new expert opinions by Andrea Fox,” referring to them as poorly timed “sandbags.” The company requested the dismissal of these opinions, which consisted of a statement and two supporting evidences.
In addition to disputing the SEC’s Compensation and Final Decision Request, Ripple has also objected to the SEC’s Preliminary Injunction, which seeks $2 billion in damages related to alleged corporate XRP sales. Ripple argues that the SEC has not provided sufficient evidence to prove future violations or disregard of the law.
The appointment of Judge Netburn as a U.S. District Judge for the Southern District of New York has been met with great enthusiasm by the crypto community. XRP advocate attorney Bill Morgan praised her decisions in the Ripple v. SEC case, stating that she deserved the appointment.
Meanwhile, the value of Ripple’s native token XRP has experienced fluctuations amidst the ongoing legal battle. At the time of writing, XRP is trading at $0.5172, representing a 0.60% decrease. Over the past month, XRP has seen a 16% drop in value, but there has been a 3% increase over the past week. The market cap of XRP currently stands at $28.5 billion, with a trading volume of $1.1 billion, despite a 20% decrease.
It’s important to note that the information provided in this article should not be considered investment advice. Investors should be aware of the high volatility and associated risks of cryptocurrencies and should conduct their own research before making any investment decisions.
