Ripple Claps Back At SEC's Request To Challenge Ruling That XRP Isn't A Security

In the latest development of the legal squabble between Ripple and the US Securities and Exchange Commission (SEC), the attorneys for the blockchain payments firm have fervently opposed the agency's anticipated motion for leave to file an interlocutory appeal relating to the XRP sales ruling made by U.S. District Court Judge Analisa Torres on July 13.

Timeline of Xrp

In a significant development within the ongoing Ripple vs. SEC legal saga, Ripple's high-ranking executives, Chris Larsen, and Brad Garlinghouse, have taken a firm stance against the U.S. Securities and Exchange Commission's (SEC) attempt to pause the trial proceedings.

While the blockchain company Ripple awaits the final decision in the legal standoff against the United States Securities and Exchange Commission (SEC), its team has asked the court to reject the agency's motion that would make ground for an early appeal.

BIT, a leading cryptocurrency exchange specializing in options trading, has unveiled its latest offering—options trading for XRP, the native token of the decentralized XRP Ledger (XRPL). XRP now joins the ranks of BTC, ETH, ADA, TON, and LADYS as the sixth token available for options trading on the BIT platform.

In a surprising move, Ripple CEO Brad Garlinghouse and executive director Chris Larsen have intensified the ongoing legal battle with the Securities and Exchange Commission (SEC) by filing a strong opposition to the regulator's request for an interlocutory appeal.

Ripple Labs has responded to the Security and Exchange Commission's filing of an interlocutory review of the court ruling in July. The legal team claims that no “extraordinary circumstance” exists to warrant an appeal.

Ripple submitted a filing on Aug. 16 expressing opposition to an interlocutory appeal expected from the U.S. Securities and Exchange Commission (SEC). The SEC accused Ripple and two of its members in December 2020 of breaking security regulations through the sale of the XRP token.

In a move that is anticipated by keen observers in the digital currency ecosystem, blockchain payments firm Ripple Labs Inc has filed its opposition to the anticipated motion for leave to file an interlocutory appeal submitted earlier by the United States Securities and Exchange Commission (SEC) in the duo's ongoing legal brawl. #XRPCommunity #SECGov v.

In the weekly time frame chart, the XRP price shows the formation of a cup and handle pattern. The chart setup often spotted at the bottom indicates a high probability of bullish reversal.

Some members of the XRP army shared the announcement by an influencer who teased the addition of XRP cryptocurrency to the list of coins supported by PayPal. However, fact-checkers failed to find proof of this listing.

The ongoing legal tussle between Ripple and the US Securities and Exchange Commission (SEC) has taken a new turn as an investment banker declarant has been granted approval by Judge Analisa Torres to make an appearance.