XRP price rises amid ongoing SEC v Ripple case and scrutiny over former SEC chair By Investing.com
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In the latest developments of the SEC v case, XRP experienced a 2.02% increase, closing at $0.5561 on Sunday, October 29, 2023. This price movement follows a period of scrutiny aimed at former SEC Chair Jay Clayton’s decision to charge Ripple, with critics arguing that Clayton should have recused himself from the case due to potential conflicts of interest.
John E. Deaton, a notable critic of Clayton’s involvement, highlighted potential conflicts related to Consensys, a competitor of Ripple. The law firm representing Consensys is also involved in the Quorum JPMCoin deal. Ripple CEO Brad Garlinghouse and co-founder Chris Larsen expressed their views on Clayton’s actions on Squawk Box.
The case overseen by Judge Analisa Torres is progressing towards a November 9 deadline for a briefing schedule on remedies for remaining charges against Ripple. In this context, documents related to a speech by William Hinman, former SEC Director and current Simpson Thacher employee linked to Enterprise , could play a key role in settlement talks. These documents, shielded multiple times by the SEC, are considered crucial alongside the Programmatic Sales of XRP ruling.
Uncertainties surrounding the SEC’s appeal plans and progress towards a BTC-spot ETF market continue to influence XRP price movements. After rallying to a high of $0.9327 in July, XRP is now eyeing the $0.5835 resistance level.
Further controversy arose following comments from Joe Grundfest about Clayton’s preference for suing executives in non-fraud cases, which stirred the community.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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© Reuters.
In the latest developments of the SEC v case, XRP experienced a 2.02% increase, closing at $0.5561 on Sunday, October 29, 2023. This price movement follows a period of scrutiny aimed at former SEC Chair Jay Clayton’s decision to charge Ripple, with critics arguing that Clayton should have recused himself from the case due to potential conflicts of interest.
John E. Deaton, a notable critic of Clayton’s involvement, highlighted potential conflicts related to Consensys, a competitor of Ripple. The law firm representing Consensys is also involved in the Quorum JPMCoin deal. Ripple CEO Brad Garlinghouse and co-founder Chris Larsen expressed their views on Clayton’s actions on Squawk Box.
The case overseen by Judge Analisa Torres is progressing towards a November 9 deadline for a briefing schedule on remedies for remaining charges against Ripple. In this context, documents related to a speech by William Hinman, former SEC Director and current Simpson Thacher employee linked to Enterprise , could play a key role in settlement talks. These documents, shielded multiple times by the SEC, are considered crucial alongside the Programmatic Sales of XRP ruling.
Uncertainties surrounding the SEC’s appeal plans and progress towards a BTC-spot ETF market continue to influence XRP price movements. After rallying to a high of $0.9327 in July, XRP is now eyeing the $0.5835 resistance level.
Further controversy arose following comments from Joe Grundfest about Clayton’s preference for suing executives in non-fraud cases, which stirred the community.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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