The SEC vs Ripple case will witness the last court filing, following the reply brief filing, after which Judge Analisa Torres will pronounce the judgment. Last year, charges were filed against Ripple under Section 5 of the US Securities Act for not listing XRP as a security for selling to institutional investors. Of late, XRP increased by 4.00%, standing at $0.5305.
Pertaining to the opening brief, the SEC requested the courts to make Ripple carry out a payment of $876,308,712 as discharge, along with a prejudgment interest to the tune of $198,150,040 and a civil penalty amounting to $876,308,712. Added to that was the restriction Ripple from carrying out the sale of XRP to institutional investors. Ripple’s version was that the penalty should not exceed $10 million.
Ripple mentioned the three tiers related to Section 20 (d) of the Securities Act. The company pointed towards Tier One, a common breach factor, and charges to be negated against Chris Larsen and Brad Garlinghouse.
However, there are anticipations that the SEC will make an appeal forfeiting the ruling related to the programmatic selling of XRP as pronounced by Judge Torres that it did not apply to the Howey test. In the bargain, XRP went under the 50 and 200-day EMAs and lost out on its pricing.
Observers are looking forward to the brief filing by the SEC soon.
XRP managed to stay over the 50-day EMA and under the 200-day EMA. They sent a message about a short-term bull run, followed by a slower run related to its pricing.
The 14-day RSI stood at 55.77, signifying an XRP movement towards the $0.5739 resistance stage, before venturing within an overbought area.