XRP Lawsuit Update: Court Sets January 15 Deadline!

 

Ripple vs SEC: New Timeline Set for Confidential Filings

The ongoing legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs has taken another step forward. Recently, the Second Circuit Court of Appeals issued an important order regarding the timeline for brief filings in this high-profile case.

Image

Court Deadline Set for January 15

In its latest ruling, the appeals court has mandated that the SEC must submit its principal brief by January 15, 2025. This means that the XRP community will have to wait until this date for any significant updates related to the lawsuit. The court has also made it clear that motions to extend this deadline will not be accepted.

Background on the Case

The SEC has charged Ripple CEO Brad Garlinghouse and Executive Chairman Chris Larsen with violations of securities laws concerning XRP sales. Ripple, however, is pushing back against these charges. The company argues that the legal definition of an "investment contract" should be reevaluated, especially in the context of cryptocurrency.

Garlinghouse and Larsen have retained the same legal team that successfully defended Garlinghouse in a previous district court case. Their goal is to have the charges dismissed, citing the long-standing Howey test and the need for clear contractual obligations in investment contracts.

Ripple’s Request for Alternative Resolution

In a related case, Judge Phyllis Hamilton has urged parties involved in Ripple’s litigation to explore an “alternative resolution.” This suggestion came after a request from lead plaintiff Bradley Sostack and Ripple Labs to finalize a judgment regarding claims of securities law violations.

XRP Price Update

As of now, the XRP price is hovering around $0.51, having dropped 1% in the last day as per Coinpedia Markets data. The trading range has seen a low of $0.503 and a high of $0.520.

Despite the lawsuit developments, interest in XRP seems to be rising, with trading volume increasing by 40% over the past 24 hours.

For a deeper dive into XRP Price Prediction and market trends, check out our detailed analysis.

What Lies Ahead for XRP

While the price of XRP remains relatively stable, market analysts have set optimistic targets. Some are predicting a price target of $25 for XRP, indicating a potential for significant returns in the future.

As the legal saga unfolds, the XRP community is closely watching the developments in the SEC vs. Ripple case. The upcoming brief filing deadline on January 15 could be a pivotal moment for Ripple and its future.




Comments

Post a Comment

Popular posts from this blog

Chainlink Price Prediction: Will LINK Price Soar Above $15?

Image
Chainlink (LINK) is generating buzz in the cryptocurrency market as it shows promising signs of upward momentum. Recent trends indicate that LINK is forming an ascending triangle pattern, suggesting a potential breakout. In this article, we’ll explore the factors contributing to Chainlink's price movements and discuss its future. Current Market Overview Chainlink's price is currently around $11.95 , reflecting a 4% increase in the last 24 hours as per Coinpedia markets data. During this period, LINK fluctuated between $11.43 and $12.12 . With major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) also showing positive trends, investor optimism is growing. For a deeper dive into Chainlink Price Prediction and market trends, check out our detailed analysis. Bullish Signals: The Ascending Triangle The formation of an ascending triangle is a significant bullish indicator for Chainlink. This pattern suggests that a breakout could occur if the price surpasses the current r...
Read more

Dogecoin Price Prediction: What’s Next for the Meme Coin?

Image
Dogecoin price predictions are buzzing, especially as Bitcoin continues to influence the cryptocurrency market. Currently trading at around $0.11 as per Coinpedia markets data, Dogecoin is navigating both opportunities and challenges in this ever-changing landscape. The Impact of Bitcoin on Dogecoin :Analysts Predict Big Gains Experts have high hopes for Dogecoin, with some predicting it could soar to $2. This optimistic view hinges on Bitcoin reaching $150,000 in the next major market surge, Many are eagerly awaiting the next few months to see how these dynamics play out. Dogecoin's Journey: From Meme to Mainstream Originally launched as a joke, Dogecoin has transformed into one of the most recognized cryptocurrencies. The Dogecoin Foundation is actively pursuing projects designed to enhance its utility and appeal. These initiatives include GigaWallet, LibDogecoin, and RadioDoge, all aimed at streamlining transactions and improving accessibility, especially in areas with limited...
Read more

Is Dogecoin Ready for a Major Price Breakout?

Image
A significant event has recently unfolded in the cryptocurrency world, capturing the attention of Dogecoin (DOGE) enthusiasts. A staggering  700 million DOGE , worth over  $78.68 million , has been transferred between two previously unknown wallets. This transfer has sparked intrigue among traders and analysts alike. The Transfer Details According to Whale Alert , the transaction involved the wallets  "D79tQ"  and  "D9jmV."  While the latter has a history of transactions, the former was completely unknown prior to this event. Such large transfers often lead to speculation about potential market movements. Current Market Update  As of writing this article Dogecoin was trading at $0.13 With 10.52% Increase in last 24 Hours  as per Coinpedia Markets data  For a more detailed analysis of Dogecoin price prediction and what to expect next, be sure to check out our in-depth article. Dogecoin's Price Movement This transfer occurred during a day of m...
Read more