The legal battle between the Securities Exchange Commission (SEC) and blockchain firm Ripple is persisting, with both sides currently tussling over financial statements.
Specifically, the regulator had previously filed a motion to compel Ripple to disclose its financial statements for 2022-2023 and post-complaint contracts.
In the latest development, Ripple has countered the SEC’s demand by filing a motion challenging it. Defense attorney James Filan, in a post on X (formerly Twitter) on January 19, revealed that Ripple deemed the motion ‘untimely.’
XRP seven-day price chart. Source: Finbold.
At the same time, XRP technical analysis reveals bearish sentiments, with a summary of one-day gauges indicating a ‘sell’ rating at 15, moving averages are for ‘strong sell’ at 13, and oscillators align with ‘neutral’ sentiment at 8.
XRP technical analysis. Source: TradingView
Overall, since XRP lost its support level at $0.60, analysts speculate that the token might experience further drops before a potential rally.
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