03 May

Leading cryptocurrency attorney Bill Morgan believes that Ripple's "Motion to Strike" application in the ongoing case against the United States would be denied. Commission on Securities and Exchanges (SEC). This was brought up by Morgan in a recent post on X, where he stated that he thinks the judge will recognize Andrea Fox's testimony as an expert from the SEC and allow Ripple to question her.

After the events, the public can wait to see what the SEC says in its reply brief on remedies on May 6 and await the Court's remedy judgment, according to Morgan. Morgan's post came after news broke that Ripple had submitted a letter endorsing its move to strike fresh expert documents on April 22. The correspondence also acts as a response to the SEC's April 29  opposition to Ripple’s earlier motion to strike. 

Ripple emphasized in the letter that was cited above that the SEC was unable to demonstrate that Fox's testimony was expert testimony rather than summary evidence. Additionally, the fintech company claimed that the witness's evidence was out of time based on the scheduling order set by the court.

Ripple clarified further by stating that the SEC does not contest the requirement that it serve a report from Fox during the remedies discovery process if she is an expert. Citing a joint letter from the parties, the blockchain firm further emphasized that the SEC was compelled by the Court's scheduling order and the parties' agreement to disclose Fox before the end of discovery.

A protracted legal battle between Ripple and the SEC arose from the company's years-long sales of XRP. The issue has had a direct effect on the price of XRP due to erratic opinions among the community. As the community awaited Ripple's most recent filing on Thursday, the leading altcoin unexpectedly increased by almost 4%.  

According to statistics from TradingView, XRP was trading at $0.51873, and the cryptocurrency market appeared to be losing momentum heading into the weekend.

May 2024, Cryptoniteuae

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