The SEC Seeks More Time in Ripple Lawsuit
The legal battle between Ripple and the United States Securities and Exchange Commission (SEC) is progressing towards a grand trial scheduled for April 23, 2024. However, before that, both parties need to comply with court rules and submit necessary documents. Federal Judge Analisa Torres had previously set deadlines for the SEC to file its brief on remedies by March 13 and for Ripple to file its opposition by April 12. However, the SEC has now requested an extension to its deadline until March 22 and asked if Ripple’s opposition brief could be filed by April 22. Ripple has reportedly agreed to these proposed terms.
The SEC’s argument for the extension is that it needs more time to review the necessary data and finalize its remedies-related briefing. This is not the first time that either party has requested an extension in this ongoing lawsuit.
XRP Price Sees an Increase
Interestingly, as these developments unfold in the lawsuit, Ripple’s XRP token has experienced a price surge. According to CoinGecko’s data, XRP has spiked by 6% in the past 24 hours, reaching almost $0.60.
Predictions of a Significant Future Surge
Many analysts have recently made predictions about XRP’s future price potential. EGRAG CRYPTO compared XRP’s performance from 2017 with the current market cycle’s bottom and envisioned a price ascent as high as $27. These predictions indicate a potential massive bull run for XRP in 2024.
Hot Take: The SEC Requests More Time as XRP Price Rises
The ongoing lawsuit between Ripple and the SEC takes another turn as the regulator requests an extension to its deadline for filing remedies-related briefing. At the same time, Ripple’s XRP token experiences a price surge, and analysts predict a significant future surge in its value.
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