Ripple vs. SEC: During the legal fight between Ripple and the U.S. SEC, Judge Analisa Torres allowed Ripple more time to gather the information needed for the case. This extra time is for the SEC’s request for detailed financial records for 2022-2023 and information on XRP sales to institutions after the lawsuit started.
Ripple’s extension request was approved.
Judge Analisa Torres issued an order in a recent court filing, responding to Ripple’s request for more time for discovery related to remedies.
This decision follows Magistrate Judge Sarah Netburn’s approval of the SEC’s request. Ripple is now required to share information about its financial statements from 2022 to 2023 and contracts regarding XRP sales after the lawsuit was filed.
Even though Ripple said they’d meet the SEC’s requests by sharing financial statements and details about XRP sales from 2022-2023, they find it difficult to gather three years’ worth of sales info. They’ve asked for an extension, moving the deadline from February 12 to February 20, 2024. Ripple thinks it’s reasonable to ask for more time when necessary.
Ripple’s Commitment to Compliance
As the legal case moves forward to the next step, Ripple and the SEC are preparing documents for court hearings in March and April. After that, the court will make decisions about what actions to take.
Despite legal challenges, Ripple is determined to maintain high standards of following rules, being fair, and being open about its actions. The company promises to use the resources needed to meet its legal duties.
XRP Price Movement
XRP’s trading volume went up by 11% in the past day, showing that more traders and speculators are interested. This good news matches a 2.38% increase in market value, which is now at $28 billion.
In the past day, XRP went up by 2%, now priced at $0.52. Its price went between $0.5119 and $0.5214.
The XRP community might be hopeful for the price to exceed $0.60, which was a strong level in the past, reaching $0.82 in July when there was good news for Ripple from Judge Torres.
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