XRP Today, it fell to $0.5075 at a crucial stage in its legal battle with the SEC. Over the last 24 hours, Ripple’s XRP token has fallen slightly by 2.91%. Therefore, it saw huge declines of 5.75% and 18.19% in a one-week and one-month period respectively.
The SEC-Ripple fight comes as the Securities and Exchange Commission (SEC) in 2020 sued Ripple and its two principal executives, Brad Garlinghouse and Christian Larsen, for “more than $1.3 billion through an unregistered, ongoing digital asset securities offering.” It started with the accusation of collecting money. Although Judge Analisa Torres’ decision in favor of Ripple is considered an important victory for Ripple, the case is still ongoing.
On April 29, the XRP community group, better known as the XRP Army, is waiting for the SEC to respond to Ripple’s petition to challenge expert testimony. XRP advocate James K. Filan posted on April 23 highlighting Ripple’s Withdrawal Request. “Ripple has filed a motion to quash new expert material filed by the SEC in support of its request for Injunctive and Final Judgment.” stated.
#XRPCommunity #SECGov v. #Ripple #XRP @Ripple has filed a Motion to Strike new expert materials the SEC submitted in support of its Motion for Remedies and Entry of Final Judgment.https://t.co/k8M84DxDiz
NEWS CONTINUES BELOW— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) April 22, 2024
As we reported as Koinfinans.com, in the court file, Ripple SECRequested that he reject new submissions in support of the opening brief. In addition, Ripple appealed to the court for a final decision. Ripple claimed,
“The parties explored solutions for more than three months. During this time, Ripple filed an additional expert report on compensation and the SEC received testimony from Ripple’s compensation expert. “The SEC waited until the proposed resolution was submitted to submit the Fox Declaration, which sets out the resolution theories and calculations.”
Editors in opening summary RippleHe argued that ‘s continued to violate US securities laws even after the SEC sued the platform. In response, Ripple argued that regulators did not disclose the identity or testimony of the expert witness during discovery.
