By Nathan Ferguson
- The US SEC vs. Ripple lawsuit is a tight conflict, and delay seems the new tactic by the securities regulator.
- XRP lawyers work on a new strategy to combat SEC’s procedures that delay the case.
- Ripple team states that authorities should not consider SEC’s crypto enforcement motions filed before the suit.
Enthusiasts trust the watchdog employs delay tactics. That is according to the current Ripple-SEC lawsuit updates. Meanwhile, Ripple’s lawyers oppose the inappropriate request by SEC. Keep in mind that the legal battle has progressed since late 2020. That had XRP struggling to recover from its slumps.
SEC Uses Delay Tactics against Ripple
XRP holders appear concerned by the SEC lawsuit again the remittance transactions giant Ripple. The US securities watchdog filed a Sur-Sur-Reply yesterday, 23 February 2022, highlighting moves to strike the Fair notice shield.
Proponents reviewed the latest Ripple-SEC lawsuit updates and trust the watchdog employs delay tactics. Ripple lawyers believe the regulator misleads its crypto enforcement characterization. On 10 February 2022, the XRP team filed the Sur-Reply on the regulator’s motion to strike Fair Notice Defense. The payment giant wants to oppose the inappropriate request by the regulator for judicial notice.
XRP Price Analysis
Ripple Erases February Gains Within Six Hours, Dropping to $0.634.
XRP price highlights massive bearishness as the remittance token formed a lower low following a plunge toward $0.634. The latest fall emerged after EXP encountered rejection near $0.872 on 9 February, kick-starting downtrends. Though bulls attempted to elevate the token, bears dominated the overall trend.
Ripple depicts similar trends today as the alt dropped towards 4 February levels, erasing almost all acquired gains. The past few hours saw massive sell-offs in the market. Extended declines will see XRP testing the following support at $0.618 within the upcoming hours.
Ripple’s price analysis shows the altcoin suffered a massive sell-off amid today’s market crash. XRP/USD extends its downswings amid pressure from negative sentiments, suggesting potential declines in the up-and-coming hours. Russia-Ukraine tension contributed to the ongoing global financial crash, as investors fled risk markets.