Ripple Vs SEC, March 26: Make-or-Break Date For XRP Lawsuit

The post Ripple Vs SEC, March 26: Make-or-Break Date For XRP Lawsuit appeared first on Coinpedia Fintech News

The conflict between Ripple Labs and the US Securities and Exchange Commission (SEC) has been a long-standing discussion in the cryptocurrency world, as both sides have locked in a legal battle over XRP’s status.

As tensions mount, all eyes are on one key date: March 26, which could prove to be the make-or-break moment for Ripple and its native token, XRP.

Litigation D-Day

In a recent tweet post Ripple’s defense lawyer, and former federal prosecutor, James K. Filan, has underscored March 26 as a crucial date, signaling a significant advancement in the case.

#XRPCommunity #SECGov v. #Ripple #XRP The @SECGov has filed, under seal, its opening remedies-related brief and supporting documents. These documents are not public yet. Public, redacted versions will be filed no later than Tuesday, March 26, 2024.

— James K. Filan (@FilanLaw) March 22, 2024

Following the initial announcement, the SEC filed remedies-related briefs and supporting documents on March 22nd, 2024.

According to Filan, the documents have not yet been made public, but the SEC is expected to issue a revised version by March 26, making significant progress in the long-running legal dispute.

However, the importance of the “brief for opening remedies” in legal proceedings is very essential. This document serves as a cornerstone in the litigation process and outlines the specific legal and financial remedies sought by the SEC against Ripple Labs.

Timeline Ahead

Here Are The Key dates in the legal battle that is looming!

• March 22, 2024: SEC confidentially files a proposed decision document.
• March 25, 2024: SEC-Ripple meeting to discuss final documents & amendments.
• March 26, 2024: The SEC files a revised, public version of the original document.
• April 22, 2024: Ripple must respond to the lawsuit.
• April 23-24, 2024: Discussion to finalize the Ripple response.
• May 8, 2024: SEC response on Ripple’s filing deadline.

XRP Price Analysis

XRP is currently trading at $0.632, with marginal volatility in the last 24 hours. Last week, however, the cryptocurrency made a modest gain, gaining 16% in one month, showing resilience despite regulatory challenges.