Ripple-SEC Case: SEC Requests Deadline Extension, XRP Price Reacts Positively

Amidst a day of upward movement in Bitcoin (BTC) and altcoins, a significant development unfolds in the ongoing legal feud between Ripple and the U.S. Securities and Exchange Commission (SEC).

Extension Request Details

The SEC has petitioned Judge Analisa Torres, overseeing the case, for an extension of deadlines concerning settlement briefings. As per former U.S. federal prosecutor James K. Filan's recent update, the SEC requested the following changes:

1. Postponing the opening summary deadline from March 13 to March 22.
2. Shifting the deadline for Ripple's opposition summary from April 12 to April 22.
3. Seeking an extension for the SEC's response summary deadline from April 29 to May 6.

SEC Requests Deadline Extension for Summaries Following Discovery Dispute Resolution

The SEC cited the need for additional time to prepare the summaries promptly following the resolution of a recent discovery dispute. The request, made in good faith, aims to ensure diligence in completing discovery and briefing regarding remedies.

XRP Price Surges Amid SEC Deadline Extension Request, Ripple Case Timeline in Focus

Following the SEC's request, the XRP price exhibited notable activity, surging to $0.59 with a 5.6% increase in the last 24 hours. While the court's response to the SEC's extension request remains pending, any acceptance could potentially impact the timeline of the Ripple case.

XRP commenced the day at $0.58, maintaining a horizontal trajectory amid the unfolding developments in the SEC-Ripple legal battle.

SEC Seeks Deadline Extension: Ripple Legal Saga Reaches Pivotal Moment as XRP Price Reacts

The SEC's move to request a deadline extension signifies a pivotal juncture in the Ripple legal saga. As XRP's price reacts positively to the latest developments, market participants await further updates regarding the case's timeline and potential implications on Ripple and the broader cryptocurrency landscape.