- XRP price surged by 2.5% to reclaim $0.5245 but retained a 16% loss in 30 days.
- Ripple filed motions contesting the SEC’s $2 billion penalty for alleged securities law violations.
- The SEC must submit its opposition brief by Monday, after which Ripple will reply within three days.
On Sunday, XRP reclaimed the $0.5245 price level, advancing by 2.5% from the intra-day low of $0.5119. Despite this registered 24-hour gain, the asset still trades with a 2.3% loss in its one-week trajectory. On a 30-day scale, XRP shoulders a more substantial 16% loss.
Last week, the XRP community witnessed significant developments in the ongoing legal dispute between XRP payment firm Ripple and the U.S. SEC. Ripple submitted two court filings, one of which was a motion to strike out the SEC’s last-minute expert testimony regarding its financial accounts and post-complaint conduct.
The second filing opposes the SEC’s $2 billion penalty against Ripple for violating securities laws through its XRP institutional sales. The SEC proposed this penalty in March during its opening brief.
Specifically, the regulator requested …
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