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Nidhi Kolhapur
Nidhi Kolhapur
Author
Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.
- Mar 20, 2024 09:45 UTC
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Ripple vs. SEC Update: Upcoming Deadlines in XRP Lawsuit
Ripple has until April 23rd to respond to the SEC's claims, with a public version released on April 24th.
Both sides are aiming to keep some information confidential, particularly regarding potential consequences for Ripple if they lose the case.
A recent price drop has investors worried, but a rebound could change the outlook.
The Ripple vs SEC lawsuit over XRP has taken a dramatic turn! Important deadlines are looming, with decisions that could impact the future of XRP. Will Ripple’s response to the SEC’s claims be enough? And what confidential information is at stake?
Read on to find out the latest developments in this high-stakes legal battle.
Deadlines Await
Ripple has until April 23 to finish and send in its official response to the SEC’s legal arguments. It will then be shared on April 24, along with a version of the answer that hides private information from the public. This action is part of ongoing court steps meant to keep trade secrets and confidential business data from getting out to the public.
When it comes to Ripple’s comments, the SEC has until May 7 to make its case. A version of these papers with some details hidden will be made public the next day, May 8.
Both sides have agreed to ask that papers about the remedies part of the case be kept secret. The due date for entry is May 13. This part of the legal process is about talking about what Ripple might have to do or what consequences they might face if the court rules against them. People who are interested besides the SEC and Ripple have until May 20 to object to this request for privacy.
Did You Know? Ripple News: XRP Declared Not a Security, But Regulatory Challenges Remain
XRP’s Price Swings
Meanwhile, the XRP Price has been on a rollercoaster ride, along with the rest of the crypto market. After a recent dip to $0.56, breaking a key support level at $0.58, investors are anxiously watching these support levels as they are essential for XRP’s potential rebound. Should the crypto manage to get back above the $0.60 mark and remain stable, it could change the current gloomy view and even go after higher support levels.
Also Read: How Could XRP Price Surge with the Upcoming Ripple vs. SEC Lawsuit Deadline?
There are more parts to this case than just the back-and-forth in court. As of recently, a court decision said that Ripple had to give the SEC specific financial records and contracts with major clients. Some people may have thought that these papers would be made public, but Ripple and the SEC have devised a plan to keep them secret and only release them under a protection order.
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