SEC Case Against Ripple Now Slated to End in 2023, Pressuring XRP

XRP tracked the broader crypto through the week, with market risk aversion weighing on the crypto market.

News updates on the Ripple v SEC also weighed on XRP, which has tested support at $0.70.

SEC and Ripple Lab Executives Agree to Lengthy Extension

On Saturday, defense attorney James Filan shared a letter of both parties agreeing to new scheduling dates.

The letter to Judge Sarah Netburn requests,

• “Motions for summary judgment Rule 56.1 Statements and motions to exclude expert testimony must be filed by August 2, 2022.
• Oppositions to any motions for summary judgment, response to Rule 56.1 Statements, and responses to motions to exclude testimony must be filed by November 2, 2022.
• Replies to any opposition must be filed by December 20, 2022.”

Additionally, the letter states that,

“This schedule would not apply to any motions to exclude the expert testimony of Anthony M. Bracco, who offered testimony about the remedies available in this case.”

#XRPCommunity #SECGov v. #Ripple #XRP Parties file joint scheduling letter proposing opening briefs for summary judgment and expert challenges in August and closing briefs a few days before Christmas. pic.twitter.com/DBVkl3LQXU

— James K. Filan 🇺🇸🇮🇪90k+ (beware of imposters) (@FilanLaw) April 22, 2022

Filan also shared a tweet from Ripple defense lawyer Stuart Alderoty, who said,

“To all that have been following the case thus far – thank you. Know that Ripple is pushing hard (and the Court is working hard) to resolve the case as soon as possible, despite the SEC time and again doing everything they can to delay.”

#XRPCommunity #SECGov v. #Ripple #XRP Read this 👇 from @s_alderoty https://t.co/jljsmIi75A

— James K. Filan 🇺🇸🇮🇪90k+ (beware of imposters) (@FilanLaw) April 22, 2022

The latest delay follows the SEC’s request for an extension of time to file its objection to Judge Netburn’s ruling on the Motion of Reconsideration of the DPP Ruling.

Last week, the SEC won a minor victory, with Judge Netburn ruling in favor of the SEC.

Judge Netburn denied a Ripple Lab motion to strike a supplemental report filed by SEC expert Dr. Albert Metz. The SEC is looking to give Dr. Metz the opportunity to contest Ripple’s rebuttal experts, who concluded that Ripple’s public statements had a “modest” influence on XRP price moves.

While reactions to the latest timelines were mixed, the extension could provide an opportunity to settle.