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With this, the cryptocurrency has lost all the gains after the XRP lawsuit ruling last month in July 2023. Furthermore, SEC’s filing for an interlocutory motion against the court ruling has further created a negative sentiment around XRP. advertisement Judge Torres decided to approve the SEC’s request and granted the regulator until August 18 to submit its opposing motion. The Judge also allowed Ripple Labs the opportunity to file its opposition papers by September 1. If needed, the SEC will have an additional chance to respond by September 8. XRP Technical Chart and Further Price Action Ripple’s XRP faced difficulty surpassing the $0.65 resistance against the US Dollar and began a fresh decline. It underwent a significant drop below the $0.550 support area. Presently, XRP is trading below $0.55 and the 100 simple moving average over a 4-hour timeframe. On the 4-hour chart of the XRP/USD pair, a notable bearish trend line is forming wit...

Also Read: Microsoft Partners With Aptos Labs For AI And Web3 Fusion, APT Token Spikes 18% advertisement On Wednesday, Judge Torres issued a pre- trial scheduling order that said the Court wants to schedule a jury trial for the second calendar quarter of 2024. This could be a massive development at a time when the Crypto Market has been anticipating an appeal request from the US SEC. The pre trial scheduling order could mean that the Summary Judgment will hold to be status quo until the second quarter of 2024 and further till the time the agency does not seek an interlocutory appeal. What Judge Analisa Torres Said In The Order The Judge said in the order the Court will seek to schedule a jury trial for the second quarter of 2024 and that both parties should submit blackout dates for trial by August 23, 2023. Further, the two sides should submit all the pre trial files, and are open to submit motions in limine , which refer to motions before the tr...

Also Read: Vitalik Involved In Process Of Hinman’s Infamous ETH Speech; Reveals Docs advertisement Why ETH Not XRP? The crucial documents revealed why then SEC Director Bill Hinman mentioned Bitcoin and Ethereum and let the XRP out of this category. However, Hinman’s speech indicated that a digital asset offered as a security can, over time, change into something other than a security. It highlighted that Ether was not a security even though it was launched through an initial coin offering (ICO). It is mentioned that the internal departments had some second thoughts about stating Ethereum in the speech. Hinman drew opposition for the reason that he included Ether in the speech draft. However, he stated they have a call scheduled with Vitalik Buterin, Ethereum Founder, later that week in order to confirm the understanding of ETH foundations operations. Read More XRP News Here… The comments from the Trading and Markets Department in resp...