Latest developments in the Ripple vs SEC lawsuit and potential impacts of the ruling.

The Securities and Exchange Commission (SEC) engages in a legal battle with Ripple; market watches for the potential effects of the ruling on XRP

Overview of XRP on Friday

• On Friday, XRP experienced a slight decline of 0.04% and closed the day at $0.5050, partially reversing a 0.36% gain from Thursday.

SEC's Response to Ripple's Opposition of Interlocutory Appeal

1. The US Securities and Exchange Commission (SEC) responded to Ripple's opposition to its interlocutory appeal motion.
2. The SEC's reply memorandum argues against staying the proceedings, citing concern for conserving judicial resources.
3. The SEC refers to the Programmatic Sales issue as a complex legal problem and mentions the SEC v. Terraform Labs case, where the defendants have no institutional interest in efficient case resolution.
4. The SEC also claims that Ripple wishes to prolong the litigation to continue selling XRP in public markets.

Implications and Reactions

1. John E. Deaton, Amicus Curiae attorney, criticizes the SEC's legal positions and calls the SEC's claim of interest in efficient adjudication ironic.
2. The judge will consider the SEC's motion for interlocutory appeal, but the duration of the process is uncertain and may impact buyer sentiment.
3. Legal experts and the crypto community will analyze the SEC's response, and opinions on the strength of the SEC's argument will influence investor sentiment.
4. The SEC's references to the SEC v. Terraform Labs case could give the SEC v. Coinbase case more influence on the SEC v. Ripple case.
5. A ruling in favor of Coinbase's motion to dismiss in the SEC v. Coinbase case could benefit Ripple's legal position.
6. The SEC alleges that Coinbase operates as an unregistered securities exchange, broker, and clearing agent, and a dismissal would undermine the SEC's stance that all cryptos, except BTC, are securities.