Here’s what to expect from Coin Edition in this week’s SEC-Ripple case

  • XRP price surged 2.5% to regain $0.5245, but is still down 16% in 30 days.
  • Filed a motion opposing the SEC's $2 billion fine for alleged violations of securities laws.
  • The SEC has until Monday to file an objection brief, and Ripple will have three days to respond.

On Sunday, XRP regained price levels of $0.5245, up 2.5% from the intraday low of $0.5119. Despite the 24-hour gain, the asset is still down 2.3% on its weekly trajectory. From a 30-day perspective, XRP’s decline was even greater at 16%.

Last week, the XRP community witnessed significant developments in the ongoing legal dispute between XRP payment company Ripple and the U.S. SEC. Ripple filed two court documents, one of which was a motion to dismiss last-minute expert testimony from the SEC regarding its financial accounts and conduct following the complaint.

The second filing objects to the SEC’s $2 billion fine against Ripple for violating securities laws through institutional sales of XRP. The SEC proposed the penalty during a court brief in March.

Specifically, regulators require…

The post XRP Legion: What to expect in this week’s SEC-Ripple case appeared first on Coin Edition.

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