Ripple There was a hot development in the ongoing lawsuit between the SEC and the SEC, just days before the decision. Ripple Labs Inc. and Nicole Tatz, the attorney representing the CEO, requested to withdraw from the case.
Nicole Tatz has applied to resign from Cleary Gottlieb Steen & Hamilton LLP in the USA. Indeed, the firm stated that the other attorneys “will continue to be Bradley Garlinghouse’s recording counsel.”
In a separate court document submitted Friday, Tatz stated that he will be disconnected from the case as of December 31.
As Koinfinans.com reported, the SEC has filed a lawsuit against Ripple and its officials for allegedly selling $1.38 billion worth of XRP ‘as unregistered real estate’. The SEC named Ripple Chief Executive Chris Larsen and Garlinghouse as co-defendants.
Despite the announcement, Ripple continues its development activities. According to Santiment, XRP development activity recorded its lowest level on 9 December. Development activity, on the other hand, started to rise after this low level.
As a matter of fact, the development activities on the GitHub front did not find a response to the XRP price. Big front investors, on the other hand, do not seem to prefer to increase their holdings.
According to Santiment, there has been a significant drop in network growth. XRP’s network growth was measured at 1045. This level marked a decline in user uptake and traction. However, considering that the decline began before Charles Hoskinson’s announcement, it would be wrong to claim that he was responsible.
At the time of writing, XRP price was trading at $0.3403.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.