- March 22 is edging closer, and it’s a critical day in the Ripple vs SEC lawsuit as the regulator will offer its opening brief on proposed XRP remedies.
- XRP is accumulating within a small range. Experts predict that it may dip even further, before reversing momentum and testing $0.7440.
It’s been three years since the US Securities and Exchange Commission sued Ripple for securities violations, and we are now heading into the final phase of the landmark lawsuit. All of the crypto-community is waiting for March 22, when the fight over remedies will begin. Meanwhile, XRP had a bad week and now has a narrow range.
Crypto News Flash has reported On several previous occasions, the 22nd of March has been a crucial date for XRP as well as the broader cryptocurrency community. Ripple will have a full month, until April 22, to submit a response. Two weeks later, on May 6, the SEC will get its last opportunity to reply to Ripple’s opposition, as Attorney James Filan revealed today.
#XRPCommunity #SECGov v. #Ripple #XRP Here is the updated schedule for remedy briefings: @SECGovThe opening brief must be submitted by March 22, 2024. @RippleThe deadline for the opposition brief to be submitted is April 22, 2020. @SECGovThe deadline for the reply brief to be submitted is May 6, 2024.
— James K. Filan
(@FilanLaw) March 14, 2024
As the battle winds down, the briefs will be the first of the last round showdowns. It’s not yet clear when the judgment will be delivered, but everyone, including ChatGPTIt’s a gamble by, to guess when the big showdown is going to take place.
Legal experts are of the opinion that Ripple will be victorious as we get closer to this showdown. Over the past 12 months, Ripple has come out on top in several key battles. Ripple’s triumphs were captured in a March 13 report Harvard Law School Forum on Corporate Governance, which stated:
In 2023 the SEC was hit with a highly publicized loss when a District Court judge ruled in the Ripple case that Ripple had not offered or sold securities by selling XRP on exchanges for digital assets.
"In 2023, the @SECGov suffered a high-profile loss in the @Ripple matter in which a district court judge held that Ripple’s sale of #XRP to buyers on digital asset exchanges did not constitute the offer or sale of securities." –@HarvardCorpGovhttps://t.co/aWOE0nemIC
— CryptoLaw (@CryptoLawUS) March 14, 2024
XRP Accumulating—What Way Next?
XRP trades at $0.6818 at press time, shedding a paltry 1% in the past 24 hours, in line with broader market movements—Bitcoin lost 0.54%, Ethereum 2.3% and Polygon 2.71%.
After reaching a high local on Monday of $0.7421, the momentum for XRP is waning. It has traded in a small range since March 12. It has since been trading in a tight range between $0.675 to $0.71. Some experts expect the token will dip as low as $0.6370 where there is strong support. This accumulation could lead to a breakout at $0.7440, before it tests its local resistance of $0.80.
Technical indicators such as the Awesome Oscillator point to a rise in XRP.
The XRP Community continues to achieve new milestones. Coreum XRPL Bridge is the latest milestone, connecting the XRP Ledger with the Cosmos Network and Ethereum Virtual Machine. This bridge allows XRP coins to be moved seamlessly between some of the biggest networks.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
Source: www.crypto-news-flash.com