Investing.com – In recent weeks, more and more institutions have become involved in the SEC’s litigation by filing amicus curiae requests.
With these pleadings, they wish to provide the court with additional information on the facts and can support one of the two parties in the proceedings in a targeted manner. Justice Torres granted a deadline until November 11, 2022 for the filing of the motions. To date, a total of 16 applications have been received and all have been approved by her.
There is now until November 18 to present the briefs to the court. Of the 16 petitioners, 13 intend to support Ripple, while two side with the SEC and one of the Amicus briefs wants to take a neutral stance. Justice Torres’ order states the following:
“The requests to file amicus curiae briefs are therefore granted. Until November 18, 2022, the Association, six holders of XRP, Coinbase (NASDAQ:), the CCI, Valhil, Cryptillian, Veri DAO, Reaper Financial, InvestReady, NSEI and Paradigm will file their briefs.”
Once the briefs are received, Ripple and the SEC will have until November 30 to respond. Sealed responses to opposing party’s expedited requests must also be filed by this date.
Ripple price technical benchmarks
Ripple is currently registering, at one at $0.3811, a daily gain of 9.95%, while the weekly loss stands at -12.86%.
The cryptocurrency managed to break above the daily close 23.6% Fibo retracement resistance, which improved the outlook for a test of the 38.2% Fibo retracement of $0.3926. This resistance is reinforced by the psychological threshold of $0.4000 and the high from November 10, which is found at $0.4025.
A break of the mentioned resistance zone will open the door for further upside towards the 50% Fibo retracement of $0.4149.
By Marco Oehrl