“Judge Torres has set the schedule regarding remedies discovery and briefing.”
According to the court order, the SEC and Ripple must complete remedies-related discovery by February 12, 2024. The SEC must file its brief with regard to remedies by March 13, 2024, and Ripple by April 12, 2024. By April 19, 2024, the SEC must file any reply to the Ripple brief.
There were no comments on X (formerly Twitter) from Ripple Chief Legal Officer Stuart Alderoty or CEO Brad Garlinghouse regarding the court order.
Significantly, the timelines will leave any SEC plans to appeal the Programmatic Sales ruling on ice. The SEC has remained silent on plans to appeal the ruling since the court denied the SEC motion for interlocutory appeal.
However, it is worth noting that the SEC dropped the charges against Ripple co-founder Chris Larsen and CEO Brad Garlinghouse. The move to expedite the SEC v Ripple case could suggest the SEC wants to focus on appealing the Programmatic Sales ruling.
While SEC v Ripple case-related updates drew interest, fake news influenced XRP price action on Monday.
Fake News Sends XRP to a Monday High of $0.7501
On Monday, XRP briefly struck a high of $0.7501, its highest level since July 23. Fake news fueled the breakout to $0.75.
Fake news of a BlackRock (BLK) filing for an XRP-spot ETF, named the iShares XRP Trust, drove XRP to the session high. Bloomberg Intelligence ETF Analyst Eric Balchunas shared the fake filing, saying,
“This is false! Confirmed by BlackRock by me […].”
“I don’t know… I don’t know the requirements to get a name on there like that. I would think it’s more rigorous than filling out a form, but this is a first for me.”
Bloomberg Intelligence ETF Analyst James Seyffart had this to say about the fake filing,
“Didn’t see this one coming. It’s definitely on the site. Similar filing info to the Ethereum Trust filing. This XRP trust would be a sign of BlackRock truly going after the SEC if this is really from BlackRock.”