Ripple has until April 23 to respond to the SEC’s allegations. Meanwhile, both parties intend to keep some information secret. In particular, the part about the possible consequences for Ripple if they lose the case is under blackout. The recent price drop has investors worried. However, according to analysts, it is possible that a recovery could change the outlook.
Critical dates are approaching in the Ripple and SEC case!
cryptokoin.comAs you follow from , the XRP case between Ripple and the SEC has taken a dramatic turn! Important deadlines are approaching with decisions that could affect the future of XRP. Will Ripple’s response to the SEC’s allegations be sufficient? And what confidential information is at stake?
Ripple has until April 23 to complete and submit its official response to the SEC’s legal arguments. It will then be shared on April 24, along with a version of the response that hides private information from the public. This action is part of ongoing court steps to prevent the public disclosure of trade secrets and confidential business data. As for Ripple’s comments, the SEC has until May 7 to file its lawsuit. A version of these documents, with some details suppressed, will be made public the next day, May 8. The following dates stand out in lawyer James K. Fillan’s post:
- Ripple must file and edit its response to the SEC’s document by April 23 and then publicly release a censored version on April 24.
- The SEC must submit its responses to Ripple’s response and discuss any changes by May 7 before publicly releasing a censored version on May 8.
- Both the SEC and Ripple want to file a request to keep all documents related to the settlement of the case confidential by May 13.
- Others may object to any part of this request until May 20.
Both parties agreed to request that documents regarding the resolution of the case be kept confidential. The application deadline is May 13. This part of the legal process is about talking about what Ripple might have to do or what consequences it might face if the court rules against it. Those interested in the matter, other than the SEC and Ripple, have until May 20 to object to this privacy request.
XRP’s price fluctuations
Meanwhile, XRP Price is on a rollercoaster ride along with the rest of the crypto market. It recently broke as low as $0.56 and broke a key support level at $0.58. Investors are anxiously watching these support levels that are necessary for XRP’s potential recovery. If the cryptocurrency manages to climb above $0.60 and holds steady, the current gloomy outlook could change and even chase higher support levels.
There’s more to this case than just the back and forth in court. A recent court ruling said Ripple must provide the SEC with certain financial records and contracts with major customers. Some thought these documents would be made public. But Ripple and the SEC developed a plan to keep them secret and only release them under a protective order.
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