- Ripple and the SEC continue their legal battle over audits.
- The number of XRP holders continues to grow.
Ongoing legal dispute between Ripple [XRP] And the Securities and Exchange Commission (SEC) is here to stay, as evidenced by recent court filings. Despite last year's ruling granting Ripple temporary relief, the legal dispute continues.
Ripple refutes SEC's compelling lawsuit
The past few days have seen heated exchanges between the US Securities and Exchange Commission (SEC) and Ripple.
The SEC began the case in late 2020 and earlier this year sought a court order forcing Ripple to disclose its 2022 and 2023 financial statements, along with its institutional distribution agreements.
In response, Ripple argued that its post-litigation conduct and financial status are irrelevant, as the discovery phase ended in August 2021 and it did not dispute its ability to pay the fine.
On January 23, the SEC asserted that: Detailed examination The contents of these agreements were critical in assessing whether Ripple's planned XRP sale was consistent with the court's summary judgment order.
However, in a response filed on January 24, Ripple said Motion to file special response. It opposed the SEC's request, calling it “unduly burdensome.”
Additionally, Ripple disputed the SEC's claim that it had documented and created all XRP sales contracts, arguing that no contracts were provided after December 22, 2020 in the ongoing class action lawsuit.
Ripple falls into oversold zone
The daily timeframe chart of XRP showed a recent downtrend over the past few days.
As of this writing, it is trading at around $0.50, reflecting a decline of around 1.8% in 24 hours. This decline caused the Relative Strength Index (RSI) to fall below the neutral line.
The RSI is currently just below 30. This suggests that XRP is currently in an oversold zone, indicating a strong bearish trend.
Source: Trading View
More XRP holders continue to emerge
An analysis of the total number of Ripple XRP holders on Santiment shows a stable trend. At the time of this analysis, the total number of holders exceeded 5 million.
How much is 1,10,100 XRP worth today
It is worth noting that the number of holders has not increased significantly, but has not decreased either.
This suggests that despite the asset's current challenges, it continues to attract and retain a consistent number of holders, reflecting continued interest and engagement in XRP.
Source: Santiment
