{"id":488834,"date":"2022-04-25T07:32:25","date_gmt":"2022-04-25T07:32:25","guid":{"rendered":"https:\/\/uniquehot.com\/?p=488834"},"modified":"2022-04-25T08:38:12","modified_gmt":"2022-04-25T08:38:12","slug":"sec-ripple-agree-to-extend-legal-battle","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/sec-ripple-agree-to-extend-legal-battle\/","title":{"rendered":"SEC, Ripple Agree To Extend Legal Battle Until 2023; XRP Bears The Brunt Of Case"},"content":{"rendered":"<p>Executives of Ripple Labs and the US Securities and Exchange Commission have agreed to prolong the timeline of their lawsuit and postpone court proceedings until the end of 2022, implying that their legal standoff would likely last well into next year.<\/p>\n<p>Both parties jointly requested the extension in a letter to Judge Sarah Netburn, who has been presiding over the case. Judge Netburn granted approval of the revised schedule.<\/p>\n<p style=\"text-align: center\"><strong><em>Suggested Reading | <a href=\"https:\/\/uniquehot.com\/crypto\/ripple-welcomes-more-than-4000\/\">Ripple Welcomes More Than 4,000 Artists Into Its New NFT Platform<\/a><\/em><\/strong><\/p>\n<h2>How Case Vs. Ripple Began<\/h2>\n<p>Between 2013 and 2020, Ripple Labs raised $1.3 billion in capital through the sale of XRP tokens.<\/p>\n<p>When the SEC filed a complaint against Ripple near the end of 2020, there were no indications from the SEC that Ripple was under scrutiny.<\/p>\n<p>And Ripple was already trading on over 200 exchanges at the time.<\/p>\n<p>The SEC, on the other hand, concluded that Christian Larsen, Ripple&#8217;s co-founder, and Bradley Garlinghouse, Ripple&#8217;s current CEO, illegally raised cash because XRP was not a registered securities but was offered to investors around the world.<\/p>\n<h2>Legal Showdown Until Before Christmas<\/h2>\n<p>The joint letter&#8217;s new provisions require the defense to file statements and any motions against expert witnesses by August 2, while objections must be filed by November 2. Additionally, any resistance must be responded to by December 20.<\/p>\n<p>The revised timeline follows the SEC&#8217;s request for an extension to file an objection to Judge Netburn&#8217;s decision on the Motion for Reconsideration of the DPP Ruling. This was the regulator&#8217;s second request for an extension in the matter.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/ZS5VO2AJ\/\" width=\"1834\" height=\"818\"><\/p>\n<pre style=\"text-align: center\">XRP total market cap at $31.56 billion on the daily chart | Source: <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" rel=\"nofollow\">TradingView.com<\/a><\/pre>\n<p>Defense attorney James Filan shared a tweet from Ripple defense lawyer Stuart Alderoty, who said:<\/p>\n<blockquote>\n<h4>\u201cTo all that have been following the case thus far \u2013 thank you. Know that Ripple is working hard (and the Court is pushing hard) to resolve the case as soon as possible, despite the SEC time and again doing everything they can to delay.\u201d<\/h4>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/XRPCommunity?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#XRPCommunity<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/SECGov?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#SECGov<\/a> v. <a href=\"https:\/\/twitter.com\/hashtag\/Ripple?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Ripple<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/XRP?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#XRP<\/a> Parties file joint scheduling letter proposing opening briefs for summary judgment and expert challenges in August and closing briefs a few days before Christmas. <a href=\"https:\/\/t.co\/DBVkl3LQXU\" rel=\"nofollow\">pic.twitter.com\/DBVkl3LQXU<\/a><\/p>\n<p>&mdash; James K. Filan \ud83c\uddfa\ud83c\uddf8\ud83c\uddee\ud83c\uddea (@FilanLaw) <a href=\"https:\/\/twitter.com\/FilanLaw\/status\/94894851?ref_src=twsrc%5Etfw\" rel=\"nofollow\">April 22, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h3>XRP Price Analysis<\/h3>\n<p>Meanwhile, XRP was up 0.26 percent to $0.7073 at the time of writing. The crypto declined 1.70 percent on Saturday and ended the day at $0.7055, down 2.06 percent from Friday&#8217;s close.<\/p>\n<p>On April 24, Ripple&#8217;s XRP fell for the fourth consecutive day, and the latest update had no discernible effect on the price.<\/p>\n<p>XRP must break over the pivot point of $0.7117 in order to reach the first major resistance level at $0.7204. To break out of the $0.7150 range, XRP would require wide crypto market support.<\/p>\n<p style=\"text-align: center\"><strong><em>Suggested Reading | <a href=\"https:\/\/uniquehot.com\/crypto\/ripple-getting-bullish-positive-trends-point-to-a-solid-year-for-xrp\/\">Ripple Getting Bullish, Positive Trends Point To A Solid Year For XRP<\/a><\/em><\/strong><\/p>\n<p>The cryptocurrency is now trading at 82% of its all-time high of $3.84194.<\/p>\n<p>Through the week, XRP trailed the broader crypto market, which was weighed down by market risk aversion.<\/p>\n<p>XRP has also been pushed down by news updates on the Ripple vs. SEC case, which has challenged support at $0.70.<\/p>\n<pre style=\"text-align: center\">Featured image from Times Tabloid, chart from <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" rel=\"nofollow\">TradingView.com<\/a><\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Executives of Ripple Labs and the US Securities and Exchange Commission have agreed to prolong the timeline of their lawsuit and postpone court proceedings until the end of 2022, implying that their legal standoff would likely last well into next year. Both parties jointly requested the extension in a letter to Judge Sarah Netburn, who has been presiding over the case. Judge Netburn granted approval of the revised schedule. Suggested Reading | Ripple Welcomes More Than 4,000 Artists Into Its New NFT Platform How Case Vs. Ripple Began Between 2013 and 2020, Ripple Labs raised $1.3 billion in capital through the sale of XRP tokens. When the SEC filed a complaint against Ripple near the end of 2020, there were no indications from the SEC that Ripple was under scrutiny. And Ripple was already trading on over 200 exchanges at the time. The SEC, on the other hand, concluded that Christian Larsen, Ripple&#8217;s co-founder, and Bradley Garlinghouse, Ripple&#8217;s current CEO, illegally raised cash because XRP was not a registered securities but was offered to investors around the world. Legal Showdown Until Before Christmas The joint letter&#8217;s new provisions require the defense to file statements and any motions against expert witnesses by August 2, while objections must be filed by November 2. Additionally, any resistance must be responded to by December 20. The revised timeline follows the SEC&#8217;s request for an extension to file an objection to Judge Netburn&#8217;s decision on the Motion for Reconsideration of the DPP Ruling. This was the regulator&#8217;s second request for an extension in the matter. XRP total market cap at $31.56 billion on the daily chart | Source: TradingView.com Defense attorney James Filan shared a tweet from Ripple defense lawyer Stuart Alderoty, who said: \u201cTo all that have been following the case thus far \u2013 thank you. Know that Ripple is working hard (and the Court is pushing hard) to resolve the case as soon as possible, despite the SEC time and again doing everything they can to delay.\u201d #XRPCommunity #SECGov v. #Ripple #XRP Parties file joint scheduling letter proposing opening briefs for summary judgment and expert challenges in August and closing briefs a few days before Christmas. pic.twitter.com\/DBVkl3LQXU &mdash; James K. Filan \ud83c\uddfa\ud83c\uddf8\ud83c\uddee\ud83c\uddea (@FilanLaw) April 22, 2022 XRP Price Analysis Meanwhile, XRP was up 0.26 percent to $0.7073 at the time of writing. The crypto declined 1.70 percent on Saturday and ended the day at $0.7055, down 2.06 percent from Friday&#8217;s close. On April 24, Ripple&#8217;s XRP fell for the fourth consecutive day, and the latest update had no discernible effect on the price. XRP must break over the pivot point of $0.7117 in order to reach the first major resistance level at $0.7204. To break out of the $0.7150 range, XRP would require wide crypto market support. Suggested Reading | Ripple Getting Bullish, Positive Trends Point To A Solid Year For XRP The cryptocurrency is now trading at 82% of its all-time high of $3.84194. Through the week, XRP trailed the broader crypto market, which was weighed down by market risk aversion. XRP has also been pushed down by news updates on the Ripple vs. SEC case, which has challenged support at $0.70. Featured image from Times Tabloid, chart from TradingView.com<\/p>\n","protected":false},"author":557,"featured_media":488838,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,16894,4],"tags":[6664,3680,85514,3799,3808,4531],"class_list":["post-488834","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-ripple","category-analysis","tag-crypto","tag-ripple","tag-ripple-vs-sec","tag-sec","tag-securities","tag-xrp"],"acf":[],"yoast_head":"\n<title>SEC, Ripple Agree To Extend Legal Battle Until 2023; XRP Bears The Brunt Of Case<\/title>\n<meta name=\"description\" content=\"Executives of Ripple Labs and the US Securities and Exchange Commission have agreed to prolong the timeline of their lawsuit and postpone court\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/sec-ripple-agree-to-extend-legal-battle\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SEC, Ripple Agree To Extend Legal Battle Until 2023; 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/uniquehot.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"SEC, Ripple Agree To Extend Legal Battle Until 2023; XRP Bears The Brunt Of Case","url":"http:\/\/uniquehot.com\/news\/sec-ripple-agree-to-extend-legal-battle\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/sec-ripple-agree-to-extend-legal-battle\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/04\/Ripple-1.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/04\/Ripple-1.jpg?fit=1280%2C720"},"articleSection":"Ripple","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["crypto","ripple","ripple vs sec","sec","securities","xrp"],"dateCreated":"2022-04-25T07:32:25Z","datePublished":"2022-04-25T07:32:25Z","dateModified":"2022-04-25T08:38:12Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"SEC, Ripple Agree To Extend Legal Battle Until 2023; XRP Bears The Brunt Of Case\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/sec-ripple-agree-to-extend-legal-battle\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/sec-ripple-agree-to-extend-legal-battle\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/04\\\/Ripple-1.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/04\\\/Ripple-1.jpg?fit=1280%2C720\"},\"articleSection\":\"Ripple\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"crypto\",\"ripple\",\"ripple vs sec\",\"sec\",\"securities\",\"xrp\"],\"dateCreated\":\"2022-04-25T07:32:25Z\",\"datePublished\":\"2022-04-25T07:32:25Z\",\"dateModified\":\"2022-04-25T08:38:12Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/04\/Ripple-1.jpg?fit=1280%2C720","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/488834"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=488834"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/488834\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/488838"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=488834"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=488834"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=488834"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}