- XRP pulled back on Saturday as users anticipate the SEC’s reply brief on May 6.
- The brief will follow up on the ongoing case between the SEC and Ripple.
- The brief’s content will inform users of the strength of the SEC’s case against Ripple.
XRP made a slight pullback on Saturday as users look forward to the upcoming reply brief by the U.S. Securities and Exchange Commission (SEC) in its case against Ripple. The court expects the commission to file a remedy-related reply brief on Monday, May 6, to argue why Ripple should be penalized.
The expected reply brief will be one in a series of filings between the SEC and Ripple, which started with the SEC’s opening brief in March. The commission had pressed for a punitive penalty and an injunction against Ripple, alleging that the latter breached U.S. Securities laws after the December 2020 complaint.
Following the SEC’s remedy-related opening brief, Ripple filed a remedy-related opposition brief to counter the SEC’s allegations. In its opposition brief filing, the fintech firm asked the court to strike the SEC’s filing, citing irregularities and lateness in the brief filing. Ripple also noted that it made …
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