The ongoing case between the US Securities and Exchange Commission (SEC) and Ripple has been quite active lately. Investors are excited by the activity in the case. XRP He moved slightly away from the token. Price performance has attracted attention by increasing in the last three days. For example, the 4.5% increase from the low level of $ 0.51459 to $ 0.53683 on Friday is noteworthy.
XRP price on Friday, SEC and Ripple It ended with a busy week for the altcoin, following a series of events between . Both parties involved themselves in motions and counter-motions, arguing over the pending case and asking the court to rule in their favor.
As we reported as Koinfinans.com SEC, sued Ripple to drop the testimony of the SEC’s enforcement accountant, Andrea Fox. The company gave several reasons for its request, including the late inclusion of new expert materials.
In its filing, the SEC argued that Fox’s testimony did not amount to the inclusion of new expert material and asked the court to vacate Ripple’s request. Later in the week, Ripple responded with a petition opposing the SEC’s application and asked the court not to consider the petition.
Industry stakeholders like attorney Bill Morgan saw no possibility of the court granting “Ripple’s Motion to Cancel.” However, he envisages a situation where the Judge will allow the firm to take deposition based on some expert evidence it has provided.
The back-and-forth between both parties has reignited investor interest and created a buzz in the crypto space. It has created some volatility in XRP, especially as users expect the case to reach a definitive conclusion soon.
The SEC filed a lawsuit seeking to fine Ripple up to $2 billion for selling XRP as a security to institutional investors. Ripple is defending its position in the ongoing case, aiming to persuade the court for a lower sentence.
