- Ripple will file their opposition brief relating to remedy on April 22, with details only being made public on the 24th.
- The SEC v. Ripple lawsuit continues to impact XRP pricing, which has led some price movements.
New developments in the SEC v. Ripple lawsuit are creating a lot of buzz. The case is heavily impacting the XRP price. Ripple will likely file their remedy-related objection brief on April 22, 2019. The redacted file will only be available to investors on the 24th of April. Ripple and the SEC may comment on this brief, providing some insight into its details.
Ripple aims to demonstrate in this document that XRP was sold to non-US institutions after the complaints were filed. The company also wants to show that a large majority of XRP pre-complaint sales went to non-US institutions.
The SEC revealed in its remedy-related first brief, filed by the regulator in March that the SEC is seeking to fine the company $2 billion. In March, the SEC sought to prevent the company from selling its securities. XRP Institutional investors. Analisa Torres can deliver a decision on a penalty based off the brief of an opponent.
SEC can still respond to the complaint but they must submit it by 6 May. The judge will then decide the penalties for violating Securities Act.
Legal experts continue to be confident of a Ripple victory, however they believe that at the end of this case the SEC would appeal against the Programmatic Sales of XRP verdict. The case could be extended and the XRP price could remain low, frustrating investors.
A settlement is still possible between both parties. Gary Gensler may also want to end this case to maintain his good name, as 2024 is an election year and could bring about leadership changes within the agency. A leadership change could also lead to the dismissal of the case.
Future Price of Ripple XRP
Investor interest is at its peak as the details and deadline of the short are fast approaching. The price has increased. After a recent price drop, XRP currently trades at $0.53. 4% surge The weekend is coming. The altcoin struggled to overcome the $0.55 barrier in recent weeks but it has strong support from the $0.50, $0.52 and $0.48 levels. For investors, these are essential to maintaining a bullish perspective.
XRP Investors are frustrated, even though the outcome of this ongoing case could have a significant impact on the market. The ongoing case that has lasted for over three years, has been a major factor in the decline of XRP and the slow development of project ecosystem. The narrative may be shifting. CNF is a good example. reportedXRP has a renewed appeal, largely due to activity surrounding the XRP Ledger. Investors may be offered a reprieve, but the outcome of the court case will ultimately determine the outlook for the future.
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Source: www.crypto-news-flash.com
