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Ripple Faces New Challenges in XRP Lawsuit
In the latest development in the class action In re Ripple Labs Inc Litigation, the plaintiffs filed appeals in the Ninth Circuit Appeals Court and filed an opposition to the bill of costs in a California district court.
Meanwhile, the deadline for the principal brief in Ripple vs SEC case is on January 15. Some in the crypto community anticipate that Gary Gensler to create major problems for Ripple before he steps down on January 20.
Plaintiff Challenges Ripple’s Bill of Costs
The plaintiffs have filed a notice of appeal in the U.S. Court of Appeals for the Ninth Circuit, appealing recent judgments in favor of Ripple Labs, XRP II, and CEO Brad Garlinghouse. This includes previous orders on Summary Judgment, plaintiff Sostack’s individual claim under California law, and other pending arguments Ripple lost in the district court since October 2020.
The plaintiffs have also expressed objections to Ripple’s bill of costs and filed a proposed order denying Ripple’s request in the XRP lawsuit. They have asked for reducing or declining the costs if the court does proceed to address costs at this stage.
"The Court defer consideration of taxable costs until after completion of the pending appeal and resolution of the stayed individual claim and any remanded Class claims."
Ripple filed a bill of costs, a declaration of Litigation Director Ana Guardado, and 65 exhibit documents on details of litigation costs, lawyer expenses, and other details in the XRP lawsuit. However, the lawsuit is near the end as the court denied plaintiffs’ most class action claims. The court affirms the judgment in favor of Ripple Labs, XRP II, and CEO Brad Garlinghouse.
The Focus Shifts to Ripple vs SEC
The focus is on the Ripple vs SEC lawsuit in the Second Circuit Appeals Court. Ripple executives and the crypto community are upbeat on the dismissal or withdrawal of appeals. However, some have raised concerns about Gary Gensler creating problems as he steps down on January 20, five days after the principal brief deadline.
XRP Price Rallies
Meanwhile, XRP price has rallied over 400% after Donald Trump’s win and recent developments including the launch of RLUSD stablecoin. The price currently trades at $2.40, moving range-bound for a week.
FAQs
Q: What is the latest development in the XRP lawsuit?
A: The plaintiffs have filed appeals in the Ninth Circuit Appeals Court and filed an opposition to the bill of costs in a California district court.
Q: What is the deadline for the principal brief in Ripple vs SEC case?
A: The deadline is on January 15.
Q: Who is expected to create problems for Ripple before he steps down on January 20?
A: Gary Gensler.
Q: What is the current price of XRP?
A: It is currently trading at $2.40, moving range-bound for a week.
