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Ripple v. SEC: Will XRP drop below $0.6 after latest filing

Press Releases Crypto News AMB-Crypto Ripple v. SEC: Will XRP drop below $0.6 after latest filing

The latest filing showed that the SEC is not giving up on the fight.
XRP’s price decreased and may not rise above $0.60 in the short term.

The U.S. SEC filed a new motion against the Ripple [XRP] team on the 11th of January. According to the latest filing, the SEC pleaded with the Southern District of New York court to ask Ripple to make its 2022 to 2023 financial statement public.

From the motion, the SEC also requested that Ripple make its post-compliant contract available to the court. The motion read,

“The SEC respectfully requests an order compelling Ripple Labs, Inc. (“Ripple”) to produce two narrow categories of documents: (a) its financial statements for the years 2022-2023; and (b) its postComplaint contracts governing “Institutional Sales.”

Last year, Judge Analisa Torres handed Ripple a partial win over the SEC by declaring that the sale of XRP did not make the token a security. However, recent filings by the regulator showed that it was not satisfied with the judgment.

Holders remain faithful to Ripple regardless

But the outcome of the latest proceedings now rests on Judge Sarah Netburn. AMBCrypto then checked the public profiles of accounts associated with Ripple and found out that the company has not responded to the matter.

At press time, the X account of CEO Brad Garlinghouse was free of the SEC motion. It was also the same with the Stuart Alderoty handle whose last comments were about the Bitcoin (BTC) ETFs approval.

However, the XRP price has lost 1.59% of its value since the development was brought to light. As of this writing, XRP changed hands at $0.59. This was a notable decline from its rise to $0.62 a few days back.

Despite the price decrease, the sentiment aro

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Author: Victor Olanrewaju

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