Defense attorney James K. Filan recently informed XRP community members that Ripple had filed their Opposition to the SEC and Judge Netburn’s deliberative process privilege (DPP) Ruling.
The SEC wants to force the company to give over notes made by Matthew Estabrook, counsel to former SEC Commissioner Elad Roisman; however, Filan observes that the SEC is merely seeking a “do-over.”
“Ripple and the Individual Defendants have filed their Opposition to the SEC’s Motion for Partial Reconsideration and Clarification of Judge Netburn’s DPP Ruling, noting that the SEC is simply seeking a “do-over.” Mr. Filan wrote.
By making public the initial filing from February 2012 and the second memo there was “a compelling argument” that the planned tokens would not be subject to federal securities laws; the company was outlining how it acquired its guidance, winning one battle in the court of public opinion.
The notes were discovered in January 2022
Finbold recently reported Ripple’s top lawyer, Stuart Alderoty, slammed the SEC for ‘offensive’ use of unsealed legal memos.
According to the Ripple General Counsel, the SEC should have examined the Perkins Coie memoranda and used Ripple as an example of proactive compliance.
“The fact that you would have a government agency trying to take these memos and use them as a sword, or as a bludgeon, rather than applauding a company that was doing the right thing, as general counsel of the company, but also just a lawyer who’s been practicing for 35 years, I find that incredibly offensive,” the Ripple GC said.
XRP price predicition
As seen by recent price movements, the token seems to have moved on from the repercussions of the SEC lawsuit. In tandem with the expansion of Ripple’s payment system network, the asset’s price is rising in lockstep with the larger market.
Currently, Ripple is trading at $0.7655, up 10.31% in the last 24 hours and down 1.87% in the previous seven days with a market worth of $36 billion, according to CoinMarketCap data.
If positive sentiments around people interested in purchasing Ripple continue to prevail, the cryptocurrency’s value has the potential to reach $1 and much higher by the end of the year 2022.
Because of this, if the case is determined in Ripple’s favor, the asset’s positive sentiment will almost certainly get stronger, and the asset’s price may be pushed above the $1 mark as a result of the decision.
As a result, the Ripple price prediction may assist you in determining whether or not the cryptocurrency will be able to achieve that level of value.
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