Ripple’s Legal Battle with SEC
To secure a victory in the upcoming trial, the United States Securities and Exchange Commission (SEC) has been urging the court to force Ripple Labs to reveal its financial statements regarding XRP sales. This information is sought for the period from late 2020 to June 2023, since the beginning of the ongoing lawsuit.
Ripple’s Response to SEC’s Motion
Ripple Labs’ lead attorneys, including Andrew J Ceresney, have submitted a sur-reply to Hon. Sarah Netburn, in response to the recent reply by the US SEC’s motion. According to Ripple’s legal counsel, the demands made by the US SEC are ‘overly burdensome’ as the defendant did not disclose the exact financial details in the ongoing Zakinov lawsuit, as claimed.
Ripple’s Commitment to Win the US Market
After consolidating for the past five years, XRP is finally approaching the apex of the triangular pattern that signals an inevitable bullish breakout. However, XRP bulls must defend the rising trend that began last year to ensure a drop below 40 cents never happens again.
Hot Take: Ripple’s Legal Battle Continues
Ripple Labs is putting up a fight in response to the demands made by the US SEC, as the legal battle over XRP continues. The outcome of this trial is highly anticipated as it could significantly impact the future of Ripple and the broader crypto market.
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