Ripple (XRP) trades broadly sideways on Tuesday after closing above $0.51 on Monday as the payment firm’s legal battle against the US Securities and Exchange Commission (SEC) persists, now in the form of crossed motions to determine which materials and testimonies have to be included in the case.
Ripple and the SEC continue their legal battle, now focused on the validity of certain materials and testimonies. The SEC highlights the legal question of whether Ripple ’s institutional clients suffered damages, as some received a higher discount than others. XRP closed above $0.51 on Monday and continued climbing higher early on Tuesday. Ripple trades broadly sideways on Tuesday after closing above $0.
com/qwVyGJI8ZS — James K. Filan April 29, 2024 Ripple had countered the SEC’s demand for over $2 billion in fines and damages in its recent filing. The firm said the fine should not exceed $10 million. Judge Sarah Netburn is expected to rule on the SEC and Ripple’s requests in May 2024. Technical analysis: XRP sustains above $0.51 Ripple sustained above $0.51 as the SEC filed its response to the firm’s motion. The $0.53 level is the closest resistance for Ripple.
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