Ad

Latest developments in Ripple’s (XRP) legal battle; SEC seeks extension

By:
on Feb 28, 2024
Listen
  • The SEC requests a delay in the briefing deadline in the suit against Ripple.
  • The postponement will push the crucial date for Ripple vs. SEC to April 22.
  • XRP price adopted a bullish outlook amid the updates.

Follow Invezz on Telegram, Twitter, and Google News for instant updates >

The United States Securities & Exchange Commission has requested Judge Analisa Torres to postpone its remedies briefing in the ongoing legal battle with Ripple (XRP).

Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.

The SEC submitted the request on Tuesday, February 27, pushing the next significant date for SEC-Ripple to April 22.

Ripple vs. SEC lawsuit delayed further

Copy link to section

XRP enthusiast and former federal prosecutor James Filan revealed the SEC’s plans to extend remedies briefing deadlines in the legal fight against crypto firm Ripple.

According to the regulator, the move will benefit both parties, as Ripple had requested more time for the discovery phase to prepare the essential documents. 

Meanwhile, the latest request by the regulator means pushing the SEC’s opening brief deadline to March 22, whereas Ripple’s time limit to file an opposition brief extends to April 22.

XRP price soars

Copy link to section

While the recent developments imply delaying the prolonged fight between the watchdog and the remittance company, they triggered significant gains for the native XRP.

The remittance coin gained more than 5% over the past day to trade at $0.5858 during this publication. XRP will likely extend its current move to $0.60.

XRP 1D Chart on Coinmarketcap

SEC’s request for delayed deadlines and Bitcoin’s upswing past $57K catalyzed XRP’s price surges. Indicators support more uptrends for the token, targeting $0.6405.

XRP bulls should overcome the hurdle at $0.6073 (78.6% FIB retracement) to extend its upside to new 2024 highs.

The Awesome Oscillator and the Moving Average Convergence Divergence highlight solid momentum for the digital coin.

Proponents believe Ripple will finally win the lawsuit, translating to robust growth for the remittance services firm. Bullish developments such as the company’s significant steps into real-world asset tokenization will support XRP’s long-term growth.

Ad

Want easy-to-follow crypto, forex & stock trading signals? Make trading simple by copying our team of pro-traders. Consistent results. Sign-up today at Invezz Signals™.

0/10
Learn more
Altcoins Blockchain Crypto Crypto regulation