- The SEC seeks to destroy the protection of the Ripple Fair Notice by Supplemental Authority Letter.
- However, legal experts and XRP supporters are optimistic about the final rule of law, with analysts predicting up to 44 percent in XRP earnings this month.
With the recent move of the US SEC against Ripple, the regulator submitted a Supplementary Authority Letter of Support in support of its offer to achieve Ripple’s fair notice protection.
Attorney Jeremy Hogan, a prominent legal expert with a keen interest in the case, recently cited an update on the case from a defense attorney. James K. Filan – another defendant of XRP. Hogan said that SEC action could be challenging for her as:
In the case of Ripple, it is the SEC that is trying to hit the positive Fair Notice protection and has a high compliance burden.
La SEC and Ripple
In addition, it highlighted the difference between the SEC’s case against Fife and the regulator’s case against Ripple. The financial watchdog first sued the company for being an unregistered distributor, among other allegations. Towards the end of 2021, a court ruling rejected Fife’s motion to demand «fair notice» to dismiss the lawsuit.
In the case of «Fife», the defendant tried to argue the «fair notice» to dismiss the law altogether (and failed) because the burden is too high on the party who called for the abolition. with writing.
In July 2021, Judge Sarah Netburn authorized the testimony of former SEC official William Hinman. Subsequently, the court scheduled an expert discovery for January 14, 2022, and the final expert deposit for January 19. The move from the SEC, therefore, is surprising given the timing of the proceedings.
The lawsuit between Ripple and CSS had a negative impact on the price of XRP during 2021, although it showed some recovery points throughout. The cross-border payments company has also promoted its operations to various nations around the world, saying 2021 was the best year yet.
XRP market price
At the time of writing, XRP was hovering around $ 0.77 after the general downtrend of the market. The coin has marked a triangular trend, according to analysts. XRP could see a 33-44 percent rise to $ 1-1.10 for a bullish reversal before the discovery ends. If the bears get a pull, $ 0.70 stays in immediate support of the signal. There may be a death crossing, but such events in the past have shown XRP a base price.
In addition, some analysts, including @Bitboy_Crypto, believe that the fate of the cryptocurrency bomb is about to happen soon. Crypto-currency analyst @XRP_Pro revealed the similarities between the current XRP price trend and its run up to 2021.
However, crypto-analysts @CarpeNoctum point out that Ripple does not have a steady trend in its quarterly prices, making it a bit difficult to forecast.
However, experts, including Hogan and attorney John Deaton, believe Ripple is on the verge of victory and the case could end in April 2022.