Here’s Why Today is Important for XRP

Turkish lire; Dr

• Today (May 13), Ripple and the Securities and Exchange Commission (SEC) will make important motions related to the ongoing lawsuit, with more legal responses awaited next week.
• The resolution of this case is eagerly awaited, as it could greatly impact the cryptocurrency market, depending on the outcome.

What do you expect today?

Since entering the beta phase, the lawsuit between Ripple and the US Securities and Exchange Commission (SEC) has been presenting developments repeatedly.

The next key date in the case is today (May 13), when both entities and third parties are scheduled to make a comprehensive filing. Letter movements To seal all compensation-related briefing materials, such as affidavits, memos, and supporting documents. The proposed cuts are also scheduled to be presented within the next few hours.

After a week, Ripple, the SEC and all other relevant organizations must submit an application Message summaries In opposition The mosque Letter movements To seal.

“Under the joint proposal, both parties will continue to do so be required To submit redacted public copies of all documents within 14 days of court rulings on universal sealing motions,” the document said is reading.

the Case decision It is very much expected by The XRP Army and the entire cryptocurrency community due to its potential impact on the industry. A decisive win for Ripple may lead to a recovery in the overall market, while the opposite scenario may hinder the progress of the sector due to the implementation of strict rules.

If you are interested in learning more about the potential impact of the issue on XRP, feel free to take a look at the dedicated video below:

Confrontation over witness testimony

As mentioned above, the legal battle Saw multiple procedures In the past few weeks, an example of this has been the confusion surrounding key witness Andrea Fox. Initially, Ripple insisted that its testimony (known as the “Fox Declaration”) represented and should be an unsolicited expert opinion. He is taken inside the account.

However, the S.E.C described The process as “standard summary guides”. Support for Discharge Accounts.”

“It is not an expert report, is not based on specialist expertise, and does not provide any opinions AbsolutelyNot to mention the “expert”. It also does not provide the testimony of an understanding witness. Instead, it applies basic math to Ripple's financial records to simplify presenting the evidence to Judge Torre.s… The agency insisted that the court should reject Ripple's request.

In addition, the watchdog claimed that the “Fox ad” consisted of data derived from the documents it had generated By ripple Themselves, including tax returns and financial statements, which can be useful to identify Outcome of the case.

Not long ago, ripple foot message In more support Her initial request. It asserted that the SEC failed to prove that the announcement was summary evidence and not expert testimony:

“Fox is an expert because it claims to use technical or other specialized knowledge to help the fact-checker understand the evidence or determine the truth in dispute. It doesn't just apply basic math to Ripple's financial recordsas confirmed by the Supreme Education Council“.

The company went further, arguing that even if Andrea Fox could is classified As a summary witness, the Commission failed to disclose her before the end of the discovery process.