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Ripple Case Update: SEC Attorney request to withdraw from the case

The SEC senior trial attorney, Dugan Bliss, request the court’s approval to withdraw from the Ripple case.

SEC attorney announces that he is resigning from the office after spending over ten years there.

After Bliss’s exit, the SEC will be represented by the remaining attorneys: Jorge G. Tenreiro, Daphna A. Waxman, Jon A. Daniels, among others.

SEC attorney Preethi Krishnamurthy is overseeing the litigation process.

The Ripple case is still in its pre-trial hearing phase. As published by CNWN, the SEC is presently seeking to increase the number of allegations.

Beginning this month, Magistrate Judge Sarah Netburn gave the green light to the SEC’s Memorandum of Understanding (MoU) requests communicated to foreign securities regulators to collect documents from overseas trading platforms and Ripple’s non-U.S. partners.

In April, the court allowed Ripple’s motion to constrain the SEC to produce documents related to Bitcoin, Ethereum, and XRP.

During an Apr. 9 conference, Bliss stated that the agency had not considered an official position on Ethereum despite a commentary made by Bill Hinman, the former director of the SEC’s Division of Corporation Finance, about Ether not being security:

So I want to clarify that this is my understanding of the current situation, and I don’t want to be overly technical. Still, the SEC itself, to my knowledge, has not taken an official position. There is no action to say Bitcoin is not a security; Ether is not a security.

ripple attorney

Ripple Price Outlook

It’s been a rough couple of weeks for XRP. After plummeting to $0.65 last week, the asset consolidated right around the $1 psychological range. Nevertheless, the coin might be looking forward to a bullish trajectory in the next few hours. At press time, the asset settled 6th in the charts, with a market cap of $47 billion.

Furthermore, XRP is currently getting support from the 50 period-Moving Average, as the price candles move above the indicator. SSL channel also displayed a buy signal, with the green line staying above the red line at press time.

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