SEC’s Request Granted: Process Extended in Ripple Case!

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Although the CEO of Ripple stated that it was a victory for the crypto ecosystem, pointing to the latest court decisions, there was a negative development for Ripple in the case. Judge Sarah Netburn agreed to the SEC’s request to the court to “investigate whether further discovery is required.” With the judge’s approval of the extension request, the litigation process between the SEC and Ripple was prolonged.

SEC’s Request Granted

Ripple CEO Brad Garlinghouse recently pointed to the latest court decision, stating that it was a victory for the crypto ecosystem. However, shortly after these statements of the Ripple CEO, there was a new development against Ripple in the court. Judge Sarah Netburn agreed to the SEC’s request to the court to “investigate whether further discovery is required.” With the approval of the SEC’s extension request, the Ripple lawsuit process was thus extended.

Current Technical Outlook on XRP

Although XRP has tested the price levels of $ 0.78 more than once in the last 1-week time frame, it has turned its direction up again with the value increases in the leading cryptocurrency Bitcoin and the bullish trend in the market. The fact that Bitcoin recorded upward movements to the price levels of $ 43,000 in the early hours of the day caused the crypto money market to gain upward momentum again. In this context, XRP also gained an upward momentum with its latest price movements and started to be traded at the price levels of $ 0.83.