Ripple vs. SEC: Ripple Files Sur-reply to Tackle SEC’s Misstatement in Slack Data Argument
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In the latest with the Ripple vs. SEC lawsuit, the defendant has filed a letter requesting permission to file an attached sur-reply to the recent SEC Motion to Compel Slack data discovery follow-ups. The sur-reply backs Ripple in the Slack data dispute and highlight the Commission’s misstatement.
Ripple’s legal team claims that the regulatory agency mischaracterized two statements, including the possible responsive rate of undiscovered Slack data and a Slack message sent by Ripple executive Bradley Garlinghouse.
The defendant asserted that the SEC assertion against its Slack notification emails having a 10-15 percent more responsive rate than that of its submitted emails is untrue. The defendant noted that it could not produce all 21,000 Slack notification emails because of the significantly low response rate.
Also, reports show that the 111 Slack notification emails produced amount to responsive rates as low as 0.5%, which Ripple noted contradicts the SEC’s bogus claims against its Slack notification email potential responsiveness.
Furthermore, the defendants highlighted the SEC’s mischaracterization of the co-founder’s Slack message, which got hidden under seal in the sir-reply. Ripple argued the irrelevance of the executive’s Slack message highlighting the Commission’s desperate efforts to label its Ripple (XRP) sales as illegal.
Key Ripple Levels to Watch — August 23
Following a 48-hour-long correction period last week, XRP appears to have regained a healthy bullish momentum after a rebound towards the $1.3000 level today. With the rest of the crypto market currently in an uptrend, we expect to see a bullish continuation over the hours, with the $1.3500 level as our bullish target.
Given the current market conditions, a sustained bearish decline is unlikely. However, mild corrections could occur along the way and should get promptly repelled by the ascending trendline currently at $1.2000.
Meanwhile, our resistance levels are $1.3500, $1.3800, and 1.4000, and our support levels are $1.2700, $1.2000, and $1.1500.
Total Market Capitalization: $2.16 trillion
Ripple Market Capitalization: $60.4 billion
Ripple Dominance: 2.8%
Market Rank: #6
