NewsletterWhy April Is A Crucial Month For XRP Vs SEC Case?
The defendants Bradley Garlinghouse, Christian Larsen, and Ripple Labs Inc. in the lawsuit against U.S SEC have filed for a motion for extension. As per the motion, they seek more time to respond against the commission’s proposed redactions of Key Documents. The defendants want to evaluate the material so that they can see to what extent they have objections to the proposed redactions.
Ripple seeks extension
The motion mentions that the SEC will produce the documents by early next week. Meanwhile, Both the parties have agreed to it and just need the court’s approval. After reviewing the documents, the accused will file a response in court within three days.
The defendants noted that the deadline to file their response was due on March 28, 2022. As per Attorney, James K. Filan, the court granted the Individual Defendants’ request for an extension to file their Answers in a text-only order. Interestingly, he also mentioned that their reply is due no later than April 8, 2022.
April will be critical month for lawsuit
Earlier, Individual Defendants in the case filed a motion seeking additional time until April 8, 2022, to file their answers to the SEC’s First Amended Complaint. To this Filan informed that SEC’s response on additional discovery is due on April 15 and the joint Proposed Scheduling Order will be due by its next week April 22, 2022.
It seems like the long-running controversial lawsuit will also stretch the month of April with multiple responses and discoveries. The commission has been dragging the case by demanding several extensions, on the other hand, Ripple has proposed a summary judgment schedule which is due by mid-May. This simply shows the different approaches taken by both parties.
On the market side, the last 30 days have been good for the XRP token as it has managed to surge by almost 30%. The coin is trading at an average price of $0.83, at the press time. According to CoinMarketCap, XRP is still the sixth-largest cryptocurrency with a total market cap of over $48 Billion.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Operation Choke Point: House Republicans Spotlight Biden Administration’s ‘Attack on Crypto’
- Polymarket Rival Kalshi Moves On-Chain With Launch of Tokenized Prediction Markets on Solana
- Tom Lee Says Bitcoin Could Hit New ATH In January As Hassett Becomes Favorite For Fed Chair
- 8 Best Crypto Exchanges That Accept PayPal Deposits and Withdrawals
- Jerome Powell Speech Today: What To Expect as Fed Ends QT
- Ethereum Price Crashes Below $3,000 as $500M Longs Liquidated: What’s Next?
- Pi Network Price Prediction Ahead of December’s 190M Scheduled Unlock
- Dogecoin Price Below $0.15 as Crypto Market Crashes: Will $0.10 Hold?
- Will the Binance Coin Price Rebound as a Key RWA Metric Jumps 99%
- AVAX Price Prediction After Bitwise Files for a Staking ETF — A Rebound Coming?
- Will Chainlink Price Soar to $20 with U.S. Spot ETF Launch?
