XRP Value Rises 10% Despite New Developments in Ripple Lawsuit
Tomiwabold Olajide
XRP Peaks On Rising Investor Optimism Amid Latest Updates In SEC Lawsuit
As seen on CoinMarketCap, XRP price is up nearly 10% in the past 24 hours. XRP is up nearly 27% from a low of $0.62 during the market sell-off on Feb. 24. Increasing investor optimism amid the latest updates in the SEC lawsuit, in addition to a broader recovery in the cryptocurrency market, may have contributed to the recent price surge.
Politeness: CoinMarketCap Facts
XRP saw its largest three-day green candle on Feb. 25 when it rose nearly 15%. The cross-border token continued its climb, reaching intraday highs of $0.797 on Feb. 26 before pulling back slightly. According to CoinMarketCap, XRP currently trades at $0.764 and ranks XRP as the sixth largest cryptocurrency by market capitalization, with Cardano and Solana in seventh and eighth place respectively.
New Updates in the Ripple-SEC Lawsuit
Shared in recent updates by defense attorney James K. Filano With the XRP community, Ripple and the individual defendants have filed their opposition to the SEC’s motion for partial reconsideration and clarification of Judge Netburn’s DPP ruling. Ripple says the SEC is just looking for a “takeover” with its latest move.
Wow. I expected Ripple to come out swinging and this letter did NOT disappoint. #mattsolomon
This is the most difficult assignment yet in the lawsuit – and rightly so.
The SEC has spun a tangled web here and I don’t expect the judge to help them out. https://t.co/LM7SXkq273
— Jeremy Hogan (@advocaatjeremy1) February 25, 2022
Attorney Jeremy Hogan, partner at Hogan & Hogan, believes Ripple’s recent move may be “the most difficult task” on the SEC. In a previously failed SEC attempt, District Judge Torres in one word order denied the SEC’s motion to file a sur-sur-response in support of its motion to attack Ripple’s fair notice defense.
As U.Today previously reported, the SEC has opposed the transfer of notes from Matthew Estabrook, counsel to then SEC Commissioner Elad Roisman, to Ripple defendants. However, the agency went ahead and submitted the notes to Judge Netburn for an on-camera review. Ripple requested the Estabrook notes earlier in February, arguing that they were not protected when the agency claimed the deliberative process privilege (DPP).
