SEC vs. Ripple: Plaintiff aims to exclude or limit expert testimony
|- In the legal battle between the SEC and Ripple, the regulator seeks permission to limit expert testimony, in a 120 page motion.
- Experts believe this move will pressure the Ripple defense team as the SEC presses to exclude the testimony of ten experts.
- XRP price breaks into a rally breaking through major resistance levels in its uptrend.
The SEC intends to file a motion to exclude the testimony of as many as ten experts retained by Ripple Labs, Christian Larsen and Bradley Garlinghouse. Experts consider the motion a move to pressure the defendant’s legal team.
Also read: Ripple does not stand a chance against SEC, affirms former securities regulator
SEC aims to exclude testimony from ten experts
The US Securities and Exchange Commission intends to file a motion to exclude or limit the testimony of ten experts retained by Ripple Labs, Christian A. Larsen and Bradley Garlinghouse. Experts argue that the plaintiff is intent on filing this motion to pressure the Ripple defense team and exclude the initial and/or rebuttal reports regarding numerous subjects that experts have testified on.
Therefore, the request to file one omnibus motion is a pressure tactic. The big motion targets up to 120 pages long testimony of experts. The final judgment could make or break the ongoing litigation.
XRPArmy is still waiting on a court ruling on Hinman's 2018 speech-related documents, and whether they fall under attorney-client privilege. The SEC aims to seal the response and file the omnibus motion.
SEC vs. Ripple filing
Omnibus motion could save a lot of time for the court and the party that brings in the motion. If the court finds the request reasonable, it is likely to be granted, though it is controversial.
Ripple has not objected to the SEC’s motion, but asked for similar privilege to be provided to them during the opposition filing.
Analysts expect Ripple squeeze to the upside to continue
Analysts at FXStreet have evaluated the XRP price uptrend and noted a similar pattern as observed in the Bitcoin and Ethereum chart. In XRP the current market price resides in the middle of the range and analysts have predicted a squeeze to the upside could continue.
XRP price has posted 8% gains over the past week and analysts predict continuation of the altcoin’s uptrend.
XRP-USD price chart
Analysts have identified key price levels. For more information, watch this video:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.