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.
- LBank Signs Sponsorship Deal with Argentine National Team, Launches $100M Bonus
- ASTER Leads Perp DEX Volumes Despite $4.8M Wintermute Transfers
- USDH Launch Boosts Hyperliquid Amid Competitive Market Pressure
- SEC to Decide on Six Spot XRP ETF Applications in October
- Ripple Partners with Ondo Finance to Tokenize U.S. Treasuries on XRPL
- Pepe Coin Price Bounce Likely as Support Zone Aligns With Rising Social Activity
- Solana Price Set for Recovery Amid Wyckoff Accumulation and Canary Capital ETF Filing
- Avalanche Price Could Surge to $50 as Transactions Jump 200%
- CHMPZ Price Prediction:Will This Net-Zero Community Token be the Next Gem?
- Ethereum (ETH) Price Set for a rebound as Whales Accumulate $1.6B ETH and Outflows Hit $622M
- HYPE Price Prediction As Bitwise Files For Hyperliquid ETF – Is $55 In Sight?
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.
