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    APE avoids broader market weakness

    Here’s Why Apecoin (APE) Price Is Skyrocketing Today

    ETH Whales Add Over $24 Million Worth Of Sandbox (SAND) Token

    The Sandbox Token (SAND) Eyes $1 On This Bullish Signal

    Uniswap Labs Acquires NFT Startup Genie

    Uniswap Labs Acquires NFT Startup Genie

    Zuckerberg Confirms Instagram And Facebook Will Display NFTs Soon

    Zuckerberg Confirms Instagram And Facebook Will Display NFTs Soon

    eBay Acquires NFT Marketplace KnownOrigin, Here’s Why

    eBay Acquires NFT Marketplace KnownOrigin, Here’s Why

    NFT Collection Doodles Sees 400% Spike In Volumes On This

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    MoonPay Launches NFT Platform In Universal Studios, Fox Partnership

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    Economic Fail Or Key To A Creative Future?

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  • Metaverse
    Demystifying Metaverse Competition - NFT News Today

    Demystifying Metaverse Competition

    The Go-To Marketplace For All Things Metaverse

    The Go-To Marketplace For All Things Metaverse

    As Otherside Land Value Drops, Yuga Labs Face Giant Tax Obligation

    As Otherside Land Value Drops, Yuga Labs Face Giant Tax Obligation

    The Web 3 LAND Sale

    The Web 3 LAND Sale

    Disney Metaverse

    Disney Hires Former Apple Executive to Head Metaverse Creative Strategy

    CyberKongZ and The Sandbox Team Up For VoxEdit Contest

    CyberKongZ and The Sandbox Team Up For VoxEdit Contest

    Man wearing smart glasses touching a virtual screen to access the metaverse

    How The Metaverse Can Change Mental Health For The Better

    Jamiroquai Partners With The Sandbox To Bring Funk To The Metaverse

    Jamiroquai Partners With The Sandbox To Bring Funk To The Metaverse

    3iQ Corp Opens a Virtual HQ in the Voxels Metaverse

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  • Analysis
    Bitcoin

    Bitcoin is Plunging, But It’s Too Early to Say Bulls Have Given Up

    Ethereum

    Ethereum Key Indicators Suggest A Sharp Drop Below $1K

    Bitcoin bear

    Why Bitcoin Must Break $22,500

    Bitcoin

    Bitcoin Turns Red, Why BTC Could Trade To New Monthly Lows

    Ethereum

    Ethereum Topside Bias Vulnerable If It Continues To Struggle Below $1.2K

    Ethereum

    Ethereum Plugs 11-Week Bleed, why $1,500 May Be On The Horizon

    Bitcoin

    Bitcoin Dips Further, Why BTC Could Revisit $20K

    Ethereum

    Ethereum Turns Red, Why ETH Must Hold This Key Support

    bitcoin bollinger bands

    Bitcoin Monthly Tags Lower Bollinger Band, Tool’s Creator Hints At Bottom

  • Learn About Crypto
    Zuckerberg Confirms Instagram And Facebook Will Display NFTs Soon

    Top 10 Blockchain and Crypto Events in July

    Crypto Chart Patterns for Trading

    Crypto Chart Patterns for Trading

    Overbought vs. Oversold Signals

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    What Is a Decentralized Exchange (DEX)?

    What Is a Decentralized Exchange (DEX)?

    What Is Ethereum 2.0 (The Merge)?

    What Is Ethereum 2.0 (The Merge)?

    Breaking: ExxonMobil is Mining Bitcoin With Natural gas

    Iran Cuts Power Supply To Crypto Mines;

    What Is Crypto Lending

    What Is Crypto Lending

    How to Survive a (Crypto) Bear Market

    How to Survive a (Crypto) Bear Market

    Top 6 Crypto Events for June 2022 – Coingape

  • Regulation
    Russian central bank exec is OK with crypto mining under one condition

    Russian central bank exec is OK with crypto mining under one condition

    OpenSea data breach causes massive leak of users’ email addresses

    OpenSea data breach causes massive leak of users’ email addresses

    First Spot Bitcoin ETF approved to launch in Europe in July

    First Spot Bitcoin ETF approved to launch in Europe in July

    E.U. moves further in its crypto regulation

    E.U. moves further in its crypto regulation

    BREAKING: Grayscale launches legal challenge to Bitcoin spot ETF rejection

    BREAKING: Grayscale launches legal challenge to Bitcoin spot ETF rejection

    EU officials reach agreement on AML authority for supervising crypto firms

    EU officials reach agreement on AML authority for supervising crypto firms

    IRS Forced To Delay Crypto Tax Collection As Industry Struggles With New Rules: Report

    IRS Forced To Delay Crypto Tax Collection As Industry Struggles With New Rules: Report

    US govt delays enforcement of crypto broker reporting requirements: Report

    US govt delays enforcement of crypto broker reporting requirements: Report

    NYDIG study calculates the value of regulation worldwide in terms of BTC price gains

    NYDIG study calculates the value of regulation worldwide in terms of BTC price gains

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Home Analysis

SEC, Ripple Agree To Extend Legal Battle Until 2023; XRP Bears The Brunt Of Case

April 25, 2022
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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’s co-founder, and Bradley Garlinghouse, Ripple’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’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’s request for an extension to file an objection to Judge Netburn’s decision on the Motion for Reconsideration of the DPP Ruling. This was the regulator’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:

“To all that have been following the case thus far – 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.”

#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

— James K. Filan 🇺🇸🇮🇪90k+ (beware of imposters) (@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’s close.

On April 24, Ripple’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



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Tags: AgreebattleBearsBruntCaseExtendlegalRippleSECXRP
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