Ripple strengthens its legal defense in the ongoing XRP lawsuit by hiring former SDNY Attorney, Douglas Zolkind. This move underscores Ripple’s commitment to vigorously contest the case and indicates potential strategic shifts in their approach.
In a significant turn of events, Ripple Labs Inc. has roped in expert attorney Douglas Samuel Zolkind, a former Southern District of New York (SDNY) attorney, in its ongoing legal skirmish against the U.S. Securities and Exchange Commission (SEC).
This move comes amid the recent departure of lawyers representing Ripple Labs and its high-profile executives, Brad Garlinghouse and Chris Larsen. The enlistment of Zolkind, a partner at the renowned Debevoise & Plimpton law firm, has invigorated the XRP community.
Zolkind’s credentials speak for themselves. As an authority in white-collar criminal defense, government probes, and internal investigations, he once played a pivotal role as a senior figure in the SDNY’s Public Corruption Unit. As the SEC gears up to challenge Judge Torres’ summary judgment ruling, Zolkind’s inclusion is deemed as an instrumental shift bolstering Ripple’s defensive posture.
Currently, the stage is set as Magistrate Judge Sarah Netburn directs both XRP and the SEC to explore dates conducive for possible settlement talks concerning XRP sales to institutional stakeholders. The dynamic remains complex, with the SEC insinuating an appeal and Ripple’s legal team actively disputing the SEC’s contentions.
Ripple’s XRP Might See Bullish Rally: Key Support Levels Identified Amid Speculation.
Crypto market analysts are buzzing with speculation. Trontoday Markets, a respected name in crypto analysis, suggests the formation of a pennant pattern that might catalyze a bullish rally for XRP by at least 30%. However, market vulnerabilities could also steer the price into a correction phase. As of now, XRP’s critical support levels are identified at $0.63 and $0.56.
In a recent 24-hour trading window, XRP experienced a 2% decrement, settling at $0.68. The trading range oscillated between $0.68 (24-hour low) and $0.71 (24-hour high). Interestingly, despite the dip, trading volume surged by 20% within the same timeframe, underscoring a heightened trader engagement.
With Ripple’s revamped legal arsenal and the crypto market’s inherent volatility, the XRP community awaits the unfolding of events with bated breath.