Cryptocurrency issues never seem to reach a conclusion. The final outcome of the legal process between the United States Securities and Exchange Commission (SEC) and Ripple has been pending for years. Judge Sarah Netburn has set the schedule for the latest motion in the case.
Latest Updates in the XRP and SEC Case
According to a statement made by defense attorney James K. Filan on April 26, Judge Netburn issued a scheduling order regarding Ripple‘s Motion to Dismiss the SEC’s Compensation and Final Decision Request.
Particularly, a former federal prosecutor who is also a popular commentator published a post revealing that the securities regulator has three business days until April 29, 2024, to respond to Ripple’s motion, followed by another three business days for the blockchain company to reply.
As we mentioned recently, Ripple had evaluated the SEC’s “new expert opinions by Andrea Fox consisting of a statement and two supporting evidences,” and requested their dismissal, criticizing them as poorly timed “sandbags.”
On the other hand, Ripple’s objection to the SEC’s Preliminary Injunction and Final Decision Request, which claims $2 billion in damages due to alleged corporate XRP sales, argues that the SEC cannot prove future violations or disregard of the law.
In another aspect of the case, the crypto community welcomed Judge Netburn’s appointment as a U.S. District Judge for the Southern District of New York with great satisfaction, and XRP advocate attorney Bill Morgan praised her decisions in the Ripple v. SEC case and stated she deserved the appointment.
XRP’s Current Dollar Value
Amid all these events and ongoing uncertainties, Ripple’s native token XRP is trading at $0.5172, following a 0.60% decrease at the time of writing.
This price level indicates a 16% drop over the last month, while there has been a 3% increase over the past week.
XRP’s market cap has fallen to $28.5 billion, while its trading volume remains at $1.1 billion despite a 20% decrease.
