The Ripple Case: XRP is Rising in Speculation… Will Either Side Collapse in the End?


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The Ripple issue was and still holds a place for it on sites interested in news and about the encrypted digital currency market, such as the Arab Bitcoin.

The case is still open so far, with the historic lawsuit facing XRP now at a crossroads to enter into a settlement or extend the case for another six months, according to the exclusive assessment provided by Mr. James K on Twitter:

The Ripple case continues:

By next month, the court will have to force the SEC to discover and respond to multiple situations it previously argued as “irrelevant,” according to the plaintiff, in the XRP lawsuit.

The most impactful deadlines were set last month, with the court agreeing and rejecting certain aspects of both parties’ applications respectively.

The first was the defendants’ proposal to compel the SEC to provide responses to interrogations, regarding the theory of the universal application of the SEC’s “Howey Test.”

Additionally, the second motion was Plaintiff’s request for a protective order under FRCP 26(c) (1), which relieves the plaintiff of any obligation to respond to the 29,947 RFAs.

Judge Nipthorn granted part of the SEC’s protection order.

However, the judge noted Ripple’s cunning efforts to make the questions unrealistically dense, so that the court would readily accept other requests.

The judge noted that it is difficult to view these scams as more than a play on the 28,849 defendants seeking assistance, giving more protection to the plaintiff on the basis of the burden.

According to many analysts and jurists, Ripple is in a good position if the Securities and Exchange Commission (SEC) agrees to provide a legal clarification on the status of the digital currency XRP, while the crypto community is looking for a settlement, which if it occurs will only take weeks.

The continued rise of the digital currency XRP:

Market sentiment towards the XRP settlement news appears to be clearly positive as the price of the coin has steadily climbed into the green during the recent bullish move that continues for the hour.

Ripple’s XRP has been frozen on many trading platforms, but despite this, the coin has risen in value by more than 18% in the past week, reaching $1.29, with a market capitalization of over $59 billion, at the time of writing.

Read also:

Ethereum gas fees drop while the currency price continues to climb to record levels

Bitcoin and Ripple Lead the Market as Total Cryptocurrency Market Cap approaches $3 trillion

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