Welcome to Extreme Investor Network, where we bring you the latest insights and updates on the stock market, trading, and Wall Street. Today, we are diving into the SEC vs. Ripple case, which has been heating up recently.
XRP, Ripple’s native cryptocurrency, has outperformed the broader crypto market, seeing a 4.08% increase to $0.5309 from April 29 to May 4. Investors have been closely monitoring the developments in the SEC v Ripple case, especially as the two parties navigate the remedy-related portion of the case.
On April 29, the SEC filed an opposition brief to Ripple’s Motion to Strike, challenging the testimony of SEC enforcement accountant Andrea Fox. Ripple argued that Fox’s testimony introduced new evidence and that they were not given the opportunity to depose her during discovery. The court must now determine whether Fox is an expert witness or a summary witness.
Ripple responded with a Motion to Strike-related reply brief on May 2, reiterating their arguments and emphasizing their need to depose Andrea Fox. The outcome of the Motion to Strike ruling is anticipated, but the ultimate focus remains on the SEC’s remedy-related reply brief, due on May 6, and the court’s ruling on the penalty for Ripple’s alleged violations of US securities laws.
Stay tuned for more updates on this developing case and its potential impact on Ripple and the broader crypto market. Be sure to visit Extreme Investor Network for exclusive insights and analysis on the latest trends in the stock market and trading world.
