Ripple Accuses SEC of Unfair Practice in Expert Reports
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According to a letter addressed to Judge Analisa Torres, the defendants allege that the SEC is working towards suppressing “substantive criticism.”
Ripple attorney John Deaton filed a motion letter in May, requesting the judge to permit him to file a brief on behalf of tens of thousands of XRP holders following the case. The request came after Patrick Doody, the SEC’s expert witness, was said to be setting up a report on what pushed XRP holders to purchase the token.
Lawyer Jeremy Hogan explained that the motion was “big,” considering striking the expert would make it more difficult to prove its case.
Last month, the court threw out the SEC’s motion to seal its opposition letter to the amicus request to participate in a Daubert challenge filed by Deaton, noting that the regulatory watchdog was attempting to seal more than necessary. A few weeks ago, the SEC finally submitted its proposed redactions to avoid “further threats and harassment.”
The Commission argued: “But no expert witness should expect to be subjected to a campaign of humiliation, harassment, or threats simply by agreeing to act as an expert witness.”
However, Ripple claims that the SEC is attempting to “suppress public criticism of its experts’ opinions.”
Key Ripple Levels to Watch — July 11
After a short consolidation following a rebound to the $0.3600 level last week, XRP resumed on a bearish trajectory on Sunday to the $0.3200 support.
At press time, the seventh-largest cryptocurrency continues to trade near the mentioned support level. Notably, XRP maintains its broader upward momentum highlighted by the trendline on my 4-hour chart. That said, I expect a sideways continuation between $0.3200 and $0.3400 over the coming days.
Meanwhile, my resistance levels are $0.3400, $0.3500, and $0.3600, and my support levels are $0.3200, $0.3100, and $0.3000.
Total Market Capitalization: $909.2 billion
Ripple Market Capitalization: $15.6 billion
Ripple Dominance: 1.71%
Market Rank: #7
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