Due to the legal battle between the two sides ripple And key dates and developments are unfolding as the U.S. Securities and Exchange Commission (SEC) shapes the course of events.
Ripple’s response deadline is approaching.
Ripple has important deadlines ahead, with April 23 set to be the date for filing a formal response to the SEC’s legal claims. Accordingly, a revised version of the response will be released on April 24 to protect sensitive business information from disclosure.
SEC rebuttal deadline is May 7
On the other side of the argument, the SEC has until May 7 to announce its case. Similar to Ripple’s response, a censored version of the SEC’s claims will be released to the public on May 8, balancing transparency with protecting confidential data. .
– Ripple must file and edit its response to the SEC document by April 23 and then release the censored version to the public on April 24.
– The SEC must file a response to Ripple’s response, discuss amendments by May 7, and then release the censored version… https://t.co/1sGwh5VLP5— 🐼PandaRippleXRP🐼 (@RipplePandaXRP) March 20, 2024
Confidentiality when discussing remedies
Both Ripple and the SEC have agreed to maintain privacy in connection with discussions of remedies within the case. The deadline for this part of the legal process is May 13. Interested parties have until May 20 to object to the confidentiality request.
XRP price volatility due to legal uncertainty
While the legal proceedings were ongoing, the price of XRP experienced significant fluctuations, reflecting the broader volatility in the cryptocurrency market. After the recent decline to $0.56 and breaking above the critical support level of $0.58, investors are closely monitoring key support levels for signs of a potential rebound. Restoring stability above $0.60 could signal a change in sentiment and pave the way for XRP to target higher support levels.
Courts order confidentiality of financial records.
In addition to the statutory exchange, a recent court ruling requires Ripple to provide the SEC with certain financial records and contracts with its major customers. Although some expected these documents to become public, Ripple and the SEC outlined a strategy of keeping them confidential and only releasing them pursuant to a protective order.
Also Read: Ripple (XRP) Price Analysis: Expert Forecasts Point to Bullish Momentum Despite Downtrend