Ripple vs. SEC: Ripple Gets Access To Critical SEC Officials’ Videos In Ongoing Lawsuit
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The platforms being subpoenaed do not allow users to download copies of the content on the platform, which explains why Ripple sought the court’s permission. That said, the SEC said it would only consent to the request if the defendants reopened discovery. The plaintiff plans to use this request to serve several subpoenas to obtain video material and boost its claims.
However, Ripple asserted that it was not looking to reopen the discovery process in its requests. The motion relates to previous requests for admission that the defendant served before the end of the fast discovery process in late August.
Judge Netburn ignored the SEC’s argument about the payment company trying to reopen the fast discovery process. Making a U-turn, the plaintiff said in a letter filed on August 8 that it did not assume a position requesting the defendants reopen the discovery process.
Commenting on the subpoena request, Attorney Jeremy Hogan, a partner at the Hogan & Hogan legal firm, recently noted that authentication is “standard stuff,” adding that it shouldn’t be a difficult task.
Key Ripple Levels to Watch — August 15
XRP has returned to my ascending trendline following a rejection from the $0.3920 12-day top. The return to this line could foster a rebound for Ripple, as it has done multiple times in the past.
This rejection was another failed attempt at reentry into the May-June consolidation zone (highlighted in purple). However, the cryptocurrency is running out of room for corrections and a breakout, in either direction, is the next on the agenda. With the market bias recorded in the past few days, my bias is tilted towards a breakout into the highlighted consolidation zone in the coming days. This bias is also supported by the scanty economic docket this week.
Meanwhile, my resistance levels are $0.3800, $0.4000, and $0.4200, and my support levels are $0.3600, $0.3500, and $0.3400.
Total Market Capitalization: $1.15 trillion
Ripple Market Capitalization: $18.2 billion
Ripple Dominance: 1.59%
Market Rank: #7
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