Last week the SEC filed for a request to file the Interlocutory Appeal. As of 16 August, Ripple responded to the same.
the SEC had relied on years-long strategy of attempted regulation by enforcement, trading on regulatory uncertainty to address digital asset sales one at a time without providing meaningful guidance or engaging in rule-making. It’s approach has reuslted in an ever-shifting litigation strategy here in which the SEC has seemingly taken positions more out of convenience then convintion.
Thus, it remains to be seen if Judge Torress rules in favor of the SEC’s motion or Ripple’s opposition motion.While this was the state of Ripple on the legal front, XRP did enjoy some positive action on the price front over the last hour. However, its 24-hour price trajectory and seven-day performance didn’t exactly please the eyes. At press time,However, its 24-hour and seven-day price action plummeted by 3.77% and 7.49% respectively.
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