Cited as an attempt to conserve “Judicial and SEC resources”, Ripple has accepted the motion on a condition. The condition allows them to have a similar page limit in their response to the motion. It has since been accepted by the SEC and has now been approved by Judge Torres.
The proposed 120-page limit is lesser than the proposed 15-page limit per expert. The SEC believes this limit will be sufficient for the SEC to provide their facts and further support their positions in the case. The drama of the SEC v Ripple legal battle embarks on a new turn with this motion. Let’s see what were the implications for the XRP token.The crypto market has seen a sustained resurgence in recent days after Bitcoin crossed $22,500. This feat has since uplifted the trader sentiment with most major cryptos rising. The same is not the case for XRP as it struggles to keep pace with its competitors. XRP was trading at $0.34 after a 2.8% loss over the day.
The MVRV also sparks a similar theme in the chart. The index value has seen a major uptick on 6 July and has since stabilized in that zone at around 5.25%. This should arrive as positive news for XRP investors with the parent company embroiled in an everlasting legal battle with American regulators.Subscribe to get it daily in your inbox.