- Judge Netburn granted Ripple’s motion to file two subpoenas to authenticate videos of seven SEC employees’ public statements.
- Judge Netburn ignored the regulator’s allegations that Ripple was resuming fact-finding.
- Ripple price could witness a potential breakout according to the daily price chart.
In the SEC v. Ripple case, the payments giant is set to provide subpoenas and authenticate videos of public statements by SEC officials. This evidence could derail his Ripple defense against the SEC. Proponents have identified a potential breakout for XRP.
Also read: SEC v. Ripple: Payments Giant Ends Legal Battle
Ripple defendant files subpoena with SEC officials
Judge Sarah Netburn, presiding over the SEC v. Ripple case, has granted payment giants a motion to provide subpoenas to authenticate videos of public statements by SEC officials. Defendant now plans to serve her two subpoenas against seven of her SEC employees. Judge Netburn ignored her SEC’s allegations that the defendant sought to reopen her factual findings. The results of video authentication will determine the success or failure of Ripple’s defenses.
Judge Netburn’s Order to the Defendants
What does it mean for the average XRP holder
Proponents hope to see a positive outcome from Ripple’s attorneys subpoenaing SEC officials. If the authorities authenticate their statements, it will strengthen Ripple’s defense against allegations made by regulators.
Ripple is likely to win the battle with the SEC, and the expansion of Ripple’s on-demand liquidity platform favors the adoption of XRP. Analysts evaluated the daily price chart and predicted a rally to $0.41. Renowned cryptocurrency analyst Bob Mason has identified three major resistance levels in XRP price appreciation.
Mason claims that the first resistance is $0.3871, the second is $0.3986 and the third is $0.4167. Our bullish outlook will be invalidated if the XRP price fails to break out of the second resistance level and sinks to $0.3443.
Cryptocurrency analyst Rudy Fares has observed that the price of XRP has remained stable between $0.30 and $0.40 over the long term. While other cryptocurrencies like MATIC have provided significant returns to their owners, XRP has lagged behind. Once the XRP price rises above his $0.40, it is expected to rise further and catch up with other altcoins in the market.
XRP-USDT 1-day chart