United States Securities and Exchange Commission (SEC), Ripple (XRP) He appears to be preparing for the next phase of his litigation with
In its letter to the court, the SEC stated that it did not need additional discovery time this time.
Is SEC Preparing to Take New Steps Against Ripple in Litigation?
According to the letter shared by Attorney James K. Filan, representative of the XRP community following the case, both parties reserve the right to request additional discovery later if they see fit. The SEC used the following statements in its letter to the court:
“Under the court’s order of March 23, 2022 (DE 452) and after consulting the individual defendants on April 14, 2022, the SEC respectfully informs the court that the SEC is not currently seeking any additional discovery rights.”
How could the letter in question affect the course of the case?
While there is no timeline or information on when the case will end, rumor has it that a settlement is being negotiated between the two parties.
That’s why this latest letter from the SEC is interpreted by the Ripple community as the progress of the case. With the letter sent to the court, hearings can begin in the case.
This latest development comes after the court recently rejected a petition to reconsider the SEC’s deliberative process privilege (DPP) decision from the court.
XRP, which was positively affected by the latest developments in the case, was recently traded at $ 0.72, while at the time of this writing, it is at $ 0.77.
*Not investment advice.