Ripple vs. SEC: Key Updates on Proposed Remedies 🚀
As we approach the next phase of the SEC v. Ripple case, essential details regarding the proposed remedies are set to unfold. Defense attorney James K. Filan sheds light on upcoming deadlines, marking critical dates for both parties. While the legal battle continues, XRP’s trading volume experiences a noticeable surge, despite a 5.6% decrease in the last 24 hours, in line with the overall market trend.
The Proposed Schedule 📅
- March 22, 2024: SEC files its opening remedies-related brief under seal.
- March 25, 2024: Parties review necessary redactions.
- March 26, 2024: SEC files a public, redacted version of the brief.
- April 22, 2024: Ripple submits a public, redacted opposition brief.
- May 6, 2024: SEC files its reply brief under seal.
- May 8, 2024: SEC submits a public, redacted reply brief.
In essence, the proposed timeline allows for ample opportunities for motions and redaction proposals from all involved parties. Ultimately, all documents must have public, redacted versions available within two weeks of the court’s ruling on sealing motions.
Case Developments 📑
A recent joint proposal, addressing sealing issues related to the upcoming remedies-related briefing, has been filed by both the SEC and Ripple. This proposal aims to streamline the process of accessing briefs promptly while incorporating vital redactions where necessary.
The SEC recently obtained an extension to scrutinize Ripple’s latest financial disclosures, postponing its initial brief submission to March 13th. This extension allows the SEC to leverage updated financial information to potentially advocate for a significant penalty. Ripple is expected to counter these claims with its opposition brief by April 22, followed by the SEC’s reply by May 6.
XRP Market Response 📈
Following recent market trends, XRP’s trading volume has surged by 138% despite the broader market downturn, reaching $3.96 billion. Speculation abounds regarding the reasons behind this surge, with the emergence of a golden cross pattern instilling optimism. However, traders are urged to exercise caution as XRP’s price recedes to $0.582, a 4.59% drop within 24 hours. Investors are advised to monitor closely for potential vulnerabilities if the price dips below $0.57.
Hot Take: Stay Tuned for Ripple-SEC Developments! 🌟
As the legal battle between Ripple and the SEC unfolds, critical dates in the proposed remedies phase offer valuable insights into the future course of action. Keep a close eye on upcoming brief submissions and responses, as they will shape the trajectory of this high-profile case. Stay informed and prepared for potential market fluctuations as the saga continues to evolve.
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