Today, XRP whales moved 180 million XRP. This development Ripple It fueled speculation in the important legal decision process between the SEC and the SEC. The SEC case is advancing to the resolution phase, reaching an important turning point in this legal battle that has been going on for three years. In a scheduling order issued by Magistrate Judge Sarah Netburn, the April 29 deadline for the SEC to respond to Ripple’s requests stands out as a critical date that could affect the course of the case. This extension provides both sides with the opportunity to present their arguments effectively.
Sentencing Debate Is Heating
Market observers are meticulously monitoring every step of this legal process. Additionally, they speculate on possible outcomes. Some people are of the opinion that there is a possibility of a resolution or compromise in the case. However, there are different opinions about which side will win. Lawyer Jeremy Hogan is still hopeful about the possibility of Ripple making a deal. He thinks this deal could be worth around $100 million. This amount is very different from the SEC’s previous request for $2 billion in disgorgement and prejudicial interest. suggestion.
Our opposition to the SEC’s request for $2B in penalties for legacy institutional sales is now public. In a case that had no investigation (or findings) of recklessness or fraud, and in which Ripple won on significant issues, the SEC’s ask is just more evidence of its ongoing… https://t.co/GLcdsyInZW
— Stuart Alderoty (@s_alderoty) April 23, 2024
NEWS CONTINUES BELOW
But Ripple’s Chief Legal Officer Stuart Alderoty pushed for a much lighter penalty, saying it should be no more than $10 million. This stance clarifies Ripple’s point of view and emphasizes the need for a fair and reasonable response. Although the outcome of the case is uncertain, those involved are awaiting further information. Because this as a whole cryptocurrency They know what it could mean for the unit’s business.
Latest Developments Regarding the Case
In the new development, Judge Sarah Netburn issued a new order. Here, Ripple requested to drop the SEC’s final expert submissions, and the judge granted an extension until April 29, 2024 for the SEC’s response. Now Ripple has three days to respond. Judge Netburn’s role remains crucial and his impartial decisions preserve the integrity of the legal process.
Currently, XRP is trading at $0.5320, representing a 1.05% increase with a daily trading volume of $1.31 billion, down 12.74%. Despite the recent fluctuations in the market, XRP has gained 6% in the past week.
