Ripple Secures Delay in Legal Battle, XRP Reaches $0.52

Judge Analisa Torres has approved Ripple’s request for a delay in the remedy-related discovery process, amidst the ongoing legal struggle between the U.S. SEC and Ripple. The prolongation relates to the SEC’s request for comprehensive financial statements for 2022–2023 and particulars about institutional sales of XRP following the complaint.

Ripple Secures Delay in Legal Battle, XRP Reaches $0.52
Source: Finance Magnates
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Approved: Ripple’s Request for Extension

Judge Analisa Torres issued an order in response to Ripple’s Motion for an Extension of Time for remedies-related discovery, as shown in a recent court filing.

This decision, nevertheless, was made after Magistrate Judge Sarah Netburn granted the SEC’s request and ordered Ripple to submit information about its financial statements for 2022 and 2023 as well as its post-complaint XRP institutional sales contracts.

However, Ripple has already committed to complying with the SEC’s requests, including providing financial statements for 2022 and 2023 and specifics regarding XRP sales. Meanwhile, ripple revealed that compiling data on XRP sales over a three-year period is difficult. The deadline has been extended from February 12 to February 20, 2024, per their request for extra time. Ripple thinks it’s appropriate to request more time when necessary.

$100 Invested in Ripple XRP Grows to $1.4 Million in February 2024

The Compliance Commitment of Ripple
Both Ripple and the SEC are preparing for court pleadings that are slated for proceedings in March and April as the legal saga moves into the remedies phase. The Court will next determine which remedies are to be applied.

Ripple is unwavering in its dedication to maintaining the highest standards of ethics, transparency, and compliance even in the face of legal challenges. The business declares that it is committed to providing the resources required to meet its legal responsibilities.

Changes in the Price of XRP
The 24-hour trading volume of XRP has climbed by 11%, which indicates that traders and speculators are becoming more interested in the cryptocurrency. This upward trajectory is consistent with the market capitalization increasing by 2.38% to $28 billion.

XRP has increased in value by 2% in the previous day, and it is now worth $0.52. Throughout this time, the price varied between $0.5119 and $0.5214.

It’s possible that the XRP community is anticipating and expecting that XRP will rise over the $0.60 support level. It’s noteworthy to see that this support level peaked in July at $0.82, coinciding with Judge Torres’s decision in favour of Ripple.

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