Ripple vs SEC: Ripple Respond to SEC Objecting to its Request to Review Three Additional Documents

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Ripple vs SEC: Ripple Respond to SEC Objecting to its Request to Review Three Additional Documents
Ripple vs SEC: Ripple Respond to SEC Objecting to its Request to Review Three Additional Documents

It seems like the fight between the cross-border payment company and the regulator keeps escalating. The company has responded to the filed letter of the regulator objecting to its request to review three additional documents.

Ripple Opposes SEC Briefing 

James K. Filan posted this report today on Twitter; the company opposes the SEC briefing on not allowing it to have access and review the privileged documents. The company complained of the SEC using their replies to talk about it targeting the summary of the letter, and the court continues to deny Ripple access.  

James also said that the revised response from the company appears to correct two bullet points missing from Document # 363 on pages 7 and 8.

However, the regulator keeps declaring that the documents were owned by the Deliberative Process Privilege (DPP) and not useful in the previous court rulings. Hence, there was no need to include it in the case.

XRP Price Faces a Big Challenge of Breaking Above the $1 Level

The drop in the price of XRP was not due to the lawsuit between the company and regulator but was as a result of China’s cryptocurrency ban law.

This caused the coin price to dip to around $0.88, the crypto is currently trading about $0.92, but investors are pretty optimistic about the price breaking above the $1 level.

Assuming the bulls break through $1, the rebound could extend to $1,135 and $1,236, respectively. An increase from the current position to $1,236 would represent an increase of 35%.

Buyers have to break the $1 mark; otherwise, this indicates a market bearish run. Any increase in selling pressure can bring the remittance token down to the 62% Fibonacci retracement level of $0.856.