Ripple Attorney: Court to Prevent SEC from Obtaining Foreign Ripple-Related Information Via MOUs

Ripple Attorney: Court to Prevent SEC from Obtaining Foreign Ripple-Related Information Via MOUs

James Filan, the attorney representing Ripple Labs and two of its executives, recently tweeted that a discovery conference has been called between the US Securities and Exchange Commission (SEC) and Ripple (XRP) and could swing in favor of his clients.

The conference will address the SEC’s attempts to obtain information from foreign regulators against Ripple to help its case.

The conference is slated to hold on April 30 and will get hosted over the telephone.

The regulatory agency has reportedly made MOUs with regulators in other countries regarding extra data and documents on Ripple that may be relevant to the ongoing case.

Filan also tweeted in the thread that interested individuals may be allowed to join the conference as passive listeners and that the event could admit as many as 4,000 callers. However, he cautioned that any unauthorized attempt to record the event would get investigated, and guilty individuals may be subject to criminal charges.

Finally, the attorney asserted that he expects the court to discontinue the SEC’s attempts to use MOUs to obtain information about Ripple from foreign regulators. He noted that:

“I think there is a decent chance the Court will order the SEC to stop using the MOU requests to get discovery and withdraw any that might be pending.”

Key XRP Levels to Watch — April 21
Ripple appears to be on a healthy recovery from its recent 40% slump over the past seven days. However, the fourth-largest cryptocurrency traded along a descending channel since it touched a three-year high around $1.9600 area. That said, XRP is currently facing the challenge of breaking above the upper-end of the trendline around $1.4500.

XRPUSD – Hourly Chart

Failure to clear this resistance level over the coming hours could trigger a decline to the $1.3000 area.

Meanwhile, our resistance levels are at $1.4500, $1.5000, and $1.6000, and our support levels are at $1.3300, $1.2000, and $1.0900.

Total Market Capitalization: $2.01 trillion

Ripple Market Capitalization: $60 billion

Ripple Dominance: 2.97%

Market Rank: #4

 

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Author : Azeez Mustapha

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.