XRP Lawyer Outlines What SEC Misses In Summary Judgment

The legal battle between the US Securities and Exchange Commission (SEC) and Ripple XRP is getting tougher. The watchdog has been hunting crypto assets and firms tagged to deal with unregistered securities.

Timeline of Xrp

Ripple, Brad Garlinghouse, and Chris Larsen, defendants in a lawsuit filed by the US SEC filed an opposition to the latest filing. The letter suggests this is another attempt by the commission to delay awaiting the resolution of this case.

Ripple's [XRP] 24-hour performance in the crypto market would have lightened up the mood of its investors. According to CoinMarketCap, XRP had increased 10.11% in the last 24 hours.

The US Fed meeting will play a vital role for the entire US stock and the crypto market. The Federal Open Market Committee (FOMC) meeting on the rate hike will decide the future price actions of leading crypto coins.

Prominent XRP-supporting lawyer John Deaton says that the U.S. Securities and Exchange Commission (SEC) made a major misstep in a recent filing for summary judgment in its lawsuit against Ripple Labs.

The recent Ripple price analysis shows that the bulls have taken control of the XRP/USD pair after a brief correction period. The price is currently trading above the $0.40 level and is set to continue higher soon.

XRP token, Ripple's native currency has emerged as one of the top gainers among the largest cryptos in the last 7 days. The price surge has come amid the ongoing legal battle with the SEC.

The crypto markets continue to hover within a bear market as the bullish reversals are not been validated. Moreover, Ripple(XRP) price remained more of less stagnant and traded below $0.4 for quiet a long time.

The digital asset firm Ripple Labs Inc. advances its fight against a Securities and Exchange Commission lawsuit, with the latter claiming that its token, XRP, is not a security as the SEC suggests.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Uncertainty in global markets and the threat of rising inflation meant that the market sentiment has been fearful over the past week.

John Deaton, Amicus curiae in the US SEC vs XRP lawsuit, and Eleanor Terrett, Fox Business Journalist discussed a motion for Summary Judgment. The XRP lawyer came out with some crucial revelations regarding Ripple's native token.