On June 16th, the Ripple Labs versus the U.S. Securities and Exchange Commission (SEC) case received an update as the SEC submitted a status report requesting an extension of the previous deadline.
Overview of Ripple vs. SEC Case
On June 16th, the SEC submitted a status report regarding the Ripple Labs case, discussing the possibility of extending the deadline for filing documents. Previously, an agreement was reached on the fine Ripple was to pay, but it was rejected by Judge Analisa Torres.
SEC's Request for Deadline Extension
The SEC filed a motion asking the court to extend the deadline for the status report to August 15, 2025. The reports indicate that both parties are in agreement regarding the extension. The SEC's stance is that this is necessary for further case consideration.
XRP Price Growth Amid Uncertainty
In light of the latest developments, XRP's price has increased by 2.4%, reaching $2.24. While this may seem minor, XRP is currently showing the best performance among the top altcoins. The overall cryptocurrency market remains uncertain due to ongoing global events.
The rising tensions surrounding the Ripple vs. SEC case and the increase in XRP's price are observed against a backdrop of uncertainty in the global political landscape. Market instability may continue to affect XRP's price.
