XRP Lawsuit: Excitement brews in the XRP community as Ripple gets a former SDNY attorney in their legal battle against the US Securities and Exchange Commission (SEC). Amid the recent exit of attorneys for Ripple Labs and executives Brad Garlinghouse and Chris Larsen, an expert attorney adds significant firepower to their defense team.
XRP Community Abuzz to Ripple New Attorney In SEC Lawsuit
Douglas Samuel Zolkind, partner at Debevoise & Plimpton law firm, has filed a notice of appearance on behalf of Ripple Labs, according to a filing in the District Court for the Southern District of New York (SDNY).
Zolkind is an expert on white collar criminal defense, government investigations, and internal investigations. He was a senior member of the Criminal Division’s Public Corruption Unit of the SDNY.
While US SEC looks to file an appeal against Judge Torres’ summary judgment ruling, Zolkind’s expertise strengthens Ripple’s position in the ongoing legal battle.
Currently, Magistrate Judge Sarah Netburn ordered Ripple and SEC to agree on dates for a possible settlement in other matters such as XRP sale to institutional investors. However, SEC hints at an appeal while XRP lawyers contradict SEC’s arguments and possible appeal.
This Attorney is simply replacing Lisa Zornberg, who just left the same firm to become Chief Counsel for the Mayor of NYC. https://t.co/owqf6SshIe
— John E Deaton (@JohnEDeaton1) July 31, 2023
Also Read: XRP Lawyers, Coinbase CLO Share Significance Of Judge Torres’ Ripple Ruling
XRP Price to Rally 30%
An analysis by CoinGape Markets predicts at least a 30% upswing in XRP price due to the formation of a pennant pattern. However, if the market continues to show weakness, the price can fall into a correction phase. The support levels for XRP are $0.63 and $0.56.
XRP price fell 2% in the past 24 hours, with the price currently trading at $0.68. The 24-hour low and high are $0.68 and $0.71, respectively. However, the trading volume has increased by 20% in 24hrs, indicating an interest among traders.
Also Read: Terra Luna Classic Community Set To Burn 800 Million Tokens, LUNC And USTC To $1?
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