Ripple price climbs higher as the payments giant opposes SEC’s fair notice defence


  • Ripple no longer relies on its fair notice defence and opposes the SEC’s motion to strike. 
  • Ripple’s lawyers argued that the Fife case was from a different legal circuit and not legally binding in a New York district court. 
  • Analysts have predicted a continuation of Ripple’s uptrend after the payments giant filed a response to the SEC.

The payments giant has opposed the US-based regulator’s fair notice defense. The altcoin’s price has posted over 4% gains over the past 24 hours. 

Ripple price could continue its climb after the giant’s new filing

The payment giant responded to the Securities & Exchange Commission’s (SEC’s) supplemental authority. Ripple’s lawyers filed a motion to strike the fair notice defense. The SEC cited the out-of-circuit decision in the case against Fife. 

Defendants have argued that the case was from a different legal circuit therefore not legally binding in the New York court. 

Ripple’s lawyers have argued against the usage of the term “investment contract.” The payments giant has argued that the Fife case is not relevant to the SEC’s allegations against Ripple. 

James K. Filan, a defense lawyer and Ripple proponent, recently tweeted about Ripple’s response to the SEC. 

XRP holders argue against the SEC’s allegations. Since the SEC labeled Ripple’s sales in the secondary market as the sale of securities. John Deaton, an XRP proponent, tweeted about the same:

The new filing by Ripple states:

Fife does not support the SEC’s motion to strike Ripple’s affirmative defense that it lacked adequate notice that XRP is an investment contract.

FXStreet analysts have evaluated the Ripple price trend and predicted that the altcoin’s price is ready to bounce to $0.96. 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Crypto markets cling to the idea of a bullish breakout

Bitcoin price is slowing down as it sticks close to a crucial support level with no volatility in sight. Ethereum and Ripple are following the big crypto’s lead and consolidating, showing no directional bias whatsoever.

More Bitcoin News

Dogecoin Price Prediction: DOGE set to dip another 15%

Dogecoin (DOGE) is under siege by bears as price action books a fourth consecutive day of losses. DOGE bulls are being pushed up against support at $0.16, which goes back to July 20. If global markets sentiment does not change, more downside is in the pipeline for DOGE, with a dip towards $0.13.

More Dogecoin News

Sandbox price finds stable support as SAND readies to rebound

Sandbox price is bouncing off a confluence of support, suggesting that an uptrend is likely. Investors can expect SAND to face a minor blockade before reaching the next significant hurdle.

More Sandbox News

Cardano price bullish reversal pattern could launch ADA toward $1.96

Cardano price has sliced above a crucial resistance barrier, which validated a bullish chart pattern. However, momentum declined as ADA retraced slightly, testing a critical line of defense before the Ethereum killer targets bigger aspirations.

More Cardano News

BTC eyes retest of $50,000

Bitcoin price shows a resurgence of retail interest as it bounced off a crucial psychological level. The recent uptrend is preparing a base on a short-term time frame so BTC can kick-start a larger leg-up. Interestingly, on-chain metrics are lining up with the bullish outlook portrayed from a technical perspective. An uptrend now seems inevitable for BTC and, therefore, the larger ecosystem.

Read full analysis

BTC

ETH

XRP