Why 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.
- Trump Says Meeting with China May Not Happen, Bitcoin Drops
- The Great Rotation? Bitcoin Rises as Gold Sees Largest Daily Drop Since 2013
- Crypto Czar David Sacks to Meet Senate Republicans In Bid To Advance Market Structure Bill
- Waller Floats ‘Payment Account’ Framework to Provide Crypto Firms Access To Fed’s Payment Rails
- Aster Outpaces Lighter in Perp DEX Rankings as Wintermute Buys the Dip After Previous Dump
- Pi Network Price Wedge Signals a Rebound as Key Upgrades Raise Utility Hopes
- Solana Price Eyes $240 Recovery as Gemini Launches SOL-Reward Credit Card
- XRP Price Prediction Amid Evernorth’s $1B XRP Treasury Plan – Can XRP Hit $5?
- Ethereum Price Targets $8K Amid John Bollinger’s ‘W’ Bottom Signal and VanEck Staked ETF Filing
- Pi Coin Price Eyes 50% Upswing As AI-Powered App Studio Update Ignites Optimism
- Bitcoin Price Prediction as Gaussian Channel Turns Green Amid U.S.–China Trade Progress and Fed Rate Cut Hopes
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.
