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SEC vs Ripple Update Dial-In Details Available for June 7 Conference

Jimmy Khan

Jun 06, 2022 11:59

Ripple and XRP had a busy week. Judge Sarah Netburn set a June 7 conference in response to a May 18 SEC filing and a May 13 Ripple reply.


The May 13 reply came in response to an SEC filing asserting attorney-client privilege shields William Hinman's 2018 speech.


The SEC vs Ripple lawsuit has been in the spotlight this year.

SEC v Ripple Dial-in Option Allows Attendance

James Filan, the defense counsel in SEC v Ripple, posted dial-in data on June 3.


The conference begins at 3pm EST. The tweet states, "USA 877-226-8215 INT 409-207-6982 Code 4713826#."


Stay tuned to @FilanLaw for updates. Calling too early will give you the erroneous code.

The conference's decision might affect SEC v. Ripple and the crypto market.


Hinman said bitcoin and Ethereum aren't securities in 2018.


Ripple Labs filed a compel motion in 2021. Motion demanded SEC speech materials.


Ripple defense lawyer Matthew Solomon objected to the SEC brief, noting that the SEC has filed at least six motions to dispute Ripple's request to compel.


A defense win would allow Ripple Labs to explore the categorization of bitcoin, Ethereum, and other cryptocurrencies.


It remains to be seen if Judge Netburn allows additional SEC filings on the attorney-client privilege.

Tuesday's conference will likely affect XRP.

SEC Case Determined XRP Price

XRP rose 1.82 percent to $0.4023 at press time.


XRP's early morning high was $0.4033.


First Major Resistance Level was $0.3998.

INDICATORS

XRP must avoid the First Major Resistance Level and $0.3946 to retarget $0.4046. XRP needs the crypto market to avoid sub-$0.40.

XRP should challenge $0.41 barrier if it rallies. Third major resistance is $0.4146.


A break below First Major Resistance would result in First Major Support at $0.3898.


XRP should avoid sub-$0.3850 barring another lengthy sell-off. Second major support is $0.3846.


EMAs and 4-hourly candlestick chart are bearish. XRP is below the 100-day EMA at $0.4102. 50-day EMA narrowed to 100-day EMA this morning. 100-day EMA flattened on 200-day EMA, XRP up.


A break of the 100-day EMA would support $0.45. SEC v Ripple will determine the week's direction.


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