- Ripple no longer relies on its fair notice defence and opposes the SEC’s motion to strike.
- Ripple’s lawyers argued that the Fife case was from a different legal circuit and not legally binding in a New York district court.
- Analysts have predicted a continuation of Ripple’s uptrend after the payments giant filed a response to the SEC.
The payments giant has opposed the US-based regulator’s fair notice defense. The altcoin’s price has posted over 4% gains over the past 24 hours.
Ripple price could continue its climb after the giant’s new filing
The payment giant responded to the Securities & Exchange Commission’s (SEC’s) supplemental authority. Ripple’s lawyers filed a motion to strike the fair notice defense. The SEC cited the out-of-circuit decision in the case against Fife.
Defendants have argued that the case was from a different legal circuit therefore not legally binding in the New York court.
Ripple’s lawyers have argued against the usage of the term “investment contract.” The payments giant has argued that the Fife case is not relevant to the SEC’s allegations against Ripple.
James K. Filan, a defense lawyer and Ripple proponent, recently tweeted about Ripple’s response to the SEC.
#XRPCommunity #SECGov v. #Ripple #XRP Ripple has filed its response to the SEC's Notice of Supplemental Authority regarding the SEC's Motion to Strike the Fair Notice Defense. pic.twitter.com/1QJywlLhcd
— James K. Filan (@FilanLaw) January 10, 2022
