While there was an upward movement in Bitcoin (BTC) and altcoins today, there was a new development in the legal struggle between Ripple and the SEC that has been going on for years.
At this point, the SEC requested an extension of the deadlines from Analisa Torres, the judge presiding over the case.
According to former US federal prosecutor James K. Filan's X post, the SEC requested a delay in the briefing dates:
“The SEC has requested a change in the deadlines for settlement briefings in the Ripple case:
1- The SEC postpones the opening summary deadline from March 13 to March 22; 2-The deadline for Ripple's opposition summary is changed from April 12 to April 22; 3-He requested that the deadline for the SEC's response summary be postponed from April 29 to May 6.”
#XRPCommunity #SECGov v. #Ripple #XRP @SECGov has requested a change to the remedies briefing deadlines, asking that: (1) the @SECGov’s opening brief deadline be extended to March 22, 2024, (2) @Ripple’s deadline to file its opposition brief be extended to April 22, 2024, and (3)… pic.twitter.com/ZvCixNdLMm
— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) February 28, 2024
In its petition to the court, the SEC argued that the extension request was in good faith and stated that additional time was required to prepare the summaries on schedule following the recently resolved discovery dispute. It was reported that Ripple also responded positively to the SEC's request for a deadline extension.
“….There is “good cause” to grant this brief extension under Federal Rule of Civil Procedure 16(b)(4).
The SEC has been diligent in completing discovery and briefing regarding remedies.
Given the foregoing, the SEC respectfully requests that the Court modify the briefing deadlines regarding the remedies set forth herein.
….”
XRP Price Mobilized!
While the court has not yet responded to the SEC's request for a time extension, if the SEC's request is accepted, an update will be made on the timeline of the Ripple case.
While new developments were taking place in the SEC-Ripple case, the XRP price also became active. Following the SEC's request, XRP rose to $0.59, and there was a 5.6% increase in the last 24 hours.
XRP started the day at $ 0.58 and appears to move horizontally during the day.
*This is not investment advice.
