In what is the most recent development in SEC-Ripple lawsuit, the federal court has granted the joint motion to extend the daubert motion deadline. Now that the deadline has been extended to January 13th, 2023, both the parties have got some extra time to redact documents.
Under the daubert motion, the parties are allowed to exclude certain parts of the documents they intend to submit with the court as evidence. The development was made public by Ripple lawyer and former federal prosecutor James K. Filan.
#XRPCommunity #SECGov v. #Ripple #XRP Scheduling Update as of December 21, 2022. pic.twitter.com/xnBqxUzSFq
— James K. Filan 🇺🇸🇮🇪 126k (beware of imposters) (@FilanLaw) December 21, 2022
Another crucial event that took place in the lawsuit, almost a week ago, is that the representative of Ripple’s Founder in the lawsuit withdrew herself from rge proceedings as the lawyer is no longer associated with the law firm hired by the CEO Garlinghouse.
It is notable that the SEC had filed a lawsuit against Ripple for allegedly selling $1.38 billion worth of XRP tokens as securities without getting the asset registered with any of the appropriate agencies.
As for the current state of the lawsuit, it is projected to be decided by mid 2023. Currently, Ripple seems to have a clear edge over the agency. However, there is still much to be discussed and evaluated.
Further, currently trading at $0.34, Ripple’s native XRP is down 9% over the week. With Bitcoin still trading below $17k, further losses may come if the premier cryptocurrency goes downwards. As for XRP, particularly, the coin has a support at $0.34 and $0.32. Whereas, on the upside, XRP faces resistance at $0.35 and $0.36.