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Ripple fires back at 'untimely' SEC request as XRP sell-off persists

2024/08/2617:35:01來源:互聯網
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The legal battle between the Securities Exchange Commission (SEC) and blockchain firm Ripple is persisting, with both sides currently tussling over financial statements.

Specifically, the regulator had previously filed a motion to compel Ripple to disclose its financial statements for 2022-2023 and post-complaint contracts.

In the latest development, Ripple has countered the SEC’s demand by filing a motion challenging it. Defense attorney James Filan, in a post on X (formerly Twitter) on January 19, revealed that Ripple deemed the motion ‘untimely.’

XRP seven-day price chart. Source: Finbold.

At the same time, XRP technical analysis reveals bearish sentiments, with a summary of one-day gauges indicating a ‘sell’ rating at 15, moving averages are for ‘strong sell’ at 13, and oscillators align with ‘neutral’ sentiment at 8.

XRP technical analysis. Source: TradingView

Overall, since XRP lost its support level at $0.60, analysts speculate that the token might experience further drops before a potential rally.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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