Pro-XRP Lawyers Say Ripple Will Lose Motion Against US SEC
XRP Lawsuit: Ripple will lose motion to strike the declaration of expert witness Andrea Fox in the remedies dispute. Can XRP price fall if the company loses motion?
HIGHLIGHTS
- Pro-XRP lawyers claim Ripple will lose motion to strike declaration by Andrea Fox (Fox Declaration).
- They believe judge will permit Ripple lawyers to depose Andrea Fox, which Ripple claims is an expert witness.
- XRP price witnesses notable recovery amid latest developments including pattern breakout.
The tussle between the U.S. Securities and Exchange Commission and Ripple Labs continues, with parties now arguing over the penalty Ripple should pay the SEC for violating securities law in offering XRP to institutional investors.
Ripple argued the SEC violated the court deadline as it included an expert declaration in the remedies-related brief after the discovery deadline, filed in a motion to strike the declaration of Andrea Fox (Fox Declaration). The motion is crucial for Fox’s statement on whether institutional investors suffered pecuniary harm.
Pro-XRP Lawyers Reveal Why Ripple Could Lose the Appeal
Ripple filed its reply to the SEC’s opposition in which the SEC claimed Fox Declaration is indeed a permissible summary evidence under the law and Fox just answered counsels’ questions on institutional buyers, pecuniary harm, and discounts to some institutional investors.
Pro-XRP lawyer Bill Morgan said, “I think Ripple will lose the motion.” He contends that the judge will accept Fox gave some expert evidence and ask Ripple’s lawyers to depose her.
He added that the SEC’s reply brief on remedies is the next important filing in the lawsuit. If the SEC agrees with Ripple’s belief that $10 million in penalties are fair due to Govil case and other reasons, which is highly unlikely, negotiations can begin on penalties. If not, the parties will continue to argue over remedies. “Judges don’t accept offers made by a party” added Morgan.
Attorney Jeremy Hogan also believes Ripple will lose the motion and proceed to depose, saying “The hardest thing to do on CT is say that you think the SEC will win a motion.” He claims the judge will allow Ripple to depose her even if Court finds the witness is an “expert”.
Read More: Whale Shifts 60M XRP As Ripple Files Its Motion, What’s Next?
XRP Lawsuit Raises Hopes for Price Surge
The recent developments in the XRP lawsuit triggered an uptick in XRP price as whales and retail investors buy the dip. While the market trading volumes dip on options expiry, traders remain bullish on a massive recovery in XRP due to a recent breakout.
XRP price jumped more than 1% in the last 24 hours, with the price currently trading above $0.521. The 24-hour low and high are $0.512 and $0.524, respectively. Furthermore, trading volume has increased recently amid a rise in interest among traders.
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Upbit Listing for ZETA and OMNI Leads Up to 40% Price Rally
Upbit said that both these digital assets would be available for trading against BTC and USDT trading pair. ZETA and OMNI volumes surge 100%.
HIGHLIGHTS
- OMNI and ZETA are available to trade on Upbit against BTC and USDT trading pairs.
- ZETA price jumps 40% on its way to new all-time high, after a breakout above $2.0.
- OMNI sees a 100% surge in daily trading volumes all the way to $100 million.
South Korea’s largest cryptocurrency exchange Upbit recently announced the listing of two altcoins Zetachain (ZETA) and Omni Network (OMNI) leading to a strong spurt in trading volumes. This has led to a strong surge in both these crypto assets with prices jumping as high as 40%.
ZetaChain (ZETA) Price Jumps 40%
Soon after the news of listing by Upbit, Zetachain’s native crypto ZETA surged by a staggering 40%. As of press time, ZETA is trading 40.51% high at $1.86 with a market cap of $494,482,651 while the daily trading volume has surged by 91% all the way to $178,546,135. As reported by Upbit, ZETA will be available for trading against Korean Won (KRW), Bitcoin (BTC), and Tether (USDT).
ZetaChain is a layer 1 mainnet designed to facilitate omnichain smart contracts and foster interconnectivity among diverse blockchain networks. Built on the Cosmos SDK framework, we maintain multiple validators engaged in the block creation process to ensure consensus.
Additionally, we operate observers and signers to facilitate cross-chain communication. Observers gather data from external chains and transmit it to Zeta Chain, while signers manage Zeta Chain accounts on external chains in a decentralized manner using the TSS function. ZETA serves as the native digital asset of Zeta Chain, utilized for various purposes including transaction fee payments, staking and delegation, and engagement in governance processes.
Omni Network (OMNI) Price Jumps 10%
Another altcoin Omi Network (OMNI) has also surged by 10% shooting all the way past $20.5 levels. As of press time, OMNI is trading at $9.47 with a market cap of $202 million and the daily trading volume jumping 110% all the way to $93,829,009. OMNI will be available to trade on Upbit against the BTC and USDT trading pairs.
Omni Network stands as a layer 1 blockchain engineered to foster interoperability among Ethereum rollups, addressing the fragmentation of liquidity, users, and developers brought about by the rapid proliferation of such rollups.
Employing a dual chain architecture, our aim is to facilitate swift and efficient cross-chain transactions through Integrated Consensus and Dual Chain Architecture. Furthermore, as EigenLayer’s Active Validated Service (AVS), it upholds initial protocol stability by integrating an Ethereum-derived security system via ETH restaking.
OMNI, the native token of Omni Network, finds utility in payment of transaction fees, staking and delegation, and active participation in governance processes.
HIGHLIGHTS
- OMNI and ZETA are available to trade on Upbit against BTC and USDT trading pairs.
- ZETA price jumps 40% on its way to new all-time high, after a breakout above $2.0.
- OMNI sees a 100% surge in daily trading volumes all the way to $100 million.
South Korea’s largest cryptocurrency exchange Upbit recently announced the listing of two altcoins Zetachain (ZETA) and Omni Network (OMNI) leading to a strong spurt in trading volumes. This has led to a strong surge in both these crypto assets with prices jumping as high as 40%.
ZetaChain (ZETA) Price Jumps 40%
Soon after the news of listing by Upbit, Zetachain’s native crypto ZETA surged by a staggering 40%. As of press time, ZETA is trading 40.51% high at $1.86 with a market cap of $494,482,651 while the daily trading volume has surged by 91% all the way to $178,546,135. As reported by Upbit, ZETA will be available for trading against Korean Won (KRW), Bitcoin (BTC), and Tether (USDT).
ZetaChain is a layer 1 mainnet designed to facilitate omnichain smart contracts and foster interconnectivity among diverse blockchain networks. Built on the Cosmos SDK framework, we maintain multiple validators engaged in the block creation process to ensure consensus.
Additionally, we operate observers and signers to facilitate cross-chain communication. Observers gather data from external chains and transmit it to Zeta Chain, while signers manage Zeta Chain accounts on external chains in a decentralized manner using the TSS function. ZETA serves as the native digital asset of Zeta Chain, utilized for various purposes including transaction fee payments, staking and delegation, and engagement in governance processes.
Omni Network (OMNI) Price Jumps 10%
Another altcoin Omi Network (OMNI) has also surged by 10% shooting all the way past $20.5 levels. As of press time, OMNI is trading at $9.47 with a market cap of $202 million and the daily trading volume jumping 110% all the way to $93,829,009. OMNI will be available to trade on Upbit against the BTC and USDT trading pairs.
Omni Network stands as a layer 1 blockchain engineered to foster interoperability among Ethereum rollups, addressing the fragmentation of liquidity, users, and developers brought about by the rapid proliferation of such rollups.
Employing a dual chain architecture, our aim is to facilitate swift and efficient cross-chain transactions through Integrated Consensus and Dual Chain Architecture. Furthermore, as EigenLayer’s Active Validated Service (AVS), it upholds initial protocol stability by integrating an Ethereum-derived security system via ETH restaking.
OMNI, the native token of Omni Network, finds utility in payment of transaction fees, staking and delegation, and active participation in governance processes.