SEC's updated lawsuit puts Ripple at a crossroads as XRP price wavers XRPCommunity ripple xrp
The recent update in the lawsuit saw the SEC file a Letter of Supplemental Authority in support of its motion to strike Ripple's fair notice defense, relying on the verdict from the case with similar fair notice arguments.According to Attorney Jeremy Hogan, who had earlier predicted a closure to the SEC lawsuit in April 2022, the SEC has a high burden to meet since it is trying to strike the affirmative defense of fair notice.
In the"Fife" case, the Defendant tried to argue"Fair Notice" in order to dismiss the lawsuit entirely because the burden is very high on a party moving to strike a pleading. Fife can still raise it as an affirmative defense later - and I expect they will. 2/3Last year, toward the end of December in the case of SEC v. Fife, a court ruling denied the defendants' motion to argue"Fair Notice" in order to dismiss the lawsuit., the Southern District of New York U.S.
Although the negative crossing of the moving average may seek to undermine bulls' activity, the good news is that previous XRP"death crosses" have signaled a major or intermediate price bottom.
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