The deadline for Amicus filings in the court case between the SEC and Ripple is inexorably approaching. Some entities have already managed to do so. The vast majority are siding with the XRP issuer.
Judge Torres approves
Amicus motions, dedicated to the court case between the SEC and Ripple, keep coming before the court. 11 of them have already been reviewed and approved by Judge Analisa Torres. Interestingly, as many as 9 entities are siding with the XRP token issuer in them. In contrast, only 2 side with the Securities and Exchange Commission. It is worth mentioning here that 1 entity has decided to remain completely impartial, and that is the Chamber of Digital Commerce. As the time for further submissions has been extended to November 18, we can expect an influx of more documents. Officials say there is expected to be a minimum of 16.
Entities that have filed or are still announcing the filing of an Amicus Brief in favor of Ripple are:
I-Remit, TapJets, Investor Choice Advocates Network (ICAN), SpendTheBits, Blockchain Association, attorney John Deaton (on behalf of XRP holders), Crypto Council for Innovation, Cryptillian Payment Systems, Veri DAO, Reaper Financial, Paradigm Operations, Coinbase and Valhil Capital.
On the SEC’s side, in turn, were InvestReady and the New Sports Economy Institute.
Schedule of current court actions in SEC vs XRP case
November 11 was the deadline set by Judge Torres, for showing interest in filing an Amicus motion. These, in turn, must arrive no later than Friday, November 18. After that time, they will be forwarded to the parties for consultation, so that each of them can address them directly. The deadline for submitting responses, in turn, is November 30. After that date, any changes in position will no longer be considered.
Amicus Briefs are a very important part of the court proceedings, in which external parties, most often unrelated to the parties to the dispute, can file their individual opinions. They are intended to enrich the court’s knowledge, to the extent that it is not specialized.
XRP price reacts
Meanwhile, current events, and potentially impending updates, are putting buying pressure on XRP. The coin is clearly playing up the bullish RSI divergence, accompanied by bullish MACD momentum. Thus, XRP is facing a resistance zone, delineated by the gray rectangle on the chart. It is worth recalling that until recently the same area was support.