As per a recent twitter post by defense lawyer, James K. Finlan, Ripple defendants Brad Garlinghouse and Chirs Larsen have filed a motion of extension to respond to SEC.
As per the filings, they have asked for an extension of time to respond against SEC’s proposed redactions to key documents of agency’s meetings with third parties that are relevant to the case. The Ripple defendants want to evaluate the documents just to make everything clear in regards with the proposed redactions.
As per the letter,, the SEC legal team is supposed to produce the documents by early next week. Whereas Ripple defendants are required to submit the response on March 28th. However, with Ripple defendants seeking time extension to file response, the defense lawyer claims that their reply is due no later than April 8, 2022.
April Is A Crucial Month !
Earlier, the Ripple defendants filed a motion in order to seek an extension of time until April 8, 20222 after SEC’s extension of time to conduct any additional discovery was approved and is now due on April 15. Also the joint proposed scheduling Order will be held by next week i.e April 22,2022.
The month of April will see a long running Ripple vs SEC lawsuit discover multiple responses & discoveries. The US Securities & Exchange Commission has been dragging the case by filing several extensions. Meanwhile Ripple has proposed a summary judgment which is due by mid-May. This indicates different kinds of approaches by both the parties.
What Holds For Ripple ?
Ripple looks forward to being the dominant player in the global cross-border payments business.
Since the last 30 days XRP has managed to surge by almost 30%. The XRP price appears to be ready for the next move as trades around $0.82 level. If XRP manages to surge above $0.91, then XRP will surely see a price hitting $1 or beyond. On the contrary, XRP’s support level lies near $0.77.