The <a href="https://news.todayq.com/sec-vs-ripple-a-crucial-battle-crypto-industry/" rel="noopener noreferrer nofollow">crucial legal battle</a> for the crypto industry, the US Securities and Exchange Commission (SEC) Vs Ripple Labs witnessed another round of court filings. The SEC filed its opposition to the defendant’s motion to strike new expert materials. Ripple’s XRP is falling on a declining slope amid the legal tussle. SEC files opposition 
According to the court filings, the commission went on to file an opposition brief in response to Ripple’s Motion to Strike. The defendant had challenged the testimony from SEC accountant Andrea Fox. The watchdog asserts that Fox’s testimony falls under standard summary evidence and is not an expert testimony.
The SEC refuting Ripple’s claim of undisclosed expert testimony holds a huge importance in the case. However, Ripple argues that the commission has identified Fox as a summary witness. This suggests that it cannot offer new information. It raises questions about compliance with discovery requirements.
The industry now looks forward to Ripple’s reply ahead. The defendants are expected to file a reply to this by May 2. It is expected that the filing might focus on whether Fox’s declaration contained new information and exhibits.
After Ripple’s submission, the commission will be required to file a reply brief to address the opposition by May 6. A long way is still left to go in this intense case. The SEC’s opening brief highlighted the penalties and injunctions against Ripple for breaching of US securities laws. Wassup with XRP 
Ripple’s native token, XRP is still battling with the increased selling pressure in the crypto market. Meanwhile, something different happened for XRP as it printed a green index on Tuesday, and that too after a long time.&nbsp;
XRP price jumped by over 2% in the last 24 hours. This surge comes in after extreme selling by whales and small holders. The crypto is still down by 16% on the year to date (YTD) basis. It is trading at an average price of $0.5125, at the press time. It is trading below by 86% from its all time high (ATH) of $3.84 record on January 4, 2018.
XRP’s 24 hour trading volume is pumped by 18% to stand at $997 million. Its market cap stands at $28.2 billion despite facing regulatory challenges from the top financial watchdog.
Recent court rulings involving Terraform Labs, Do Kwon, and Coinbase further show the regulatory scrutiny faced by crypto entities. These rulings serve as reminders of the regulatory uncertainty surrounding cryptos and highlight the cruciality of ongoing legal proceedings.

XRP sees green amid SEC legal tussle, Ripple’s response awaited

Todayq News

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