Ripple fires back at ‘untimely’ SEC request as XRP sell-off persists

The legal battle between the Securities Exchange Commission (SEC) and blockchain firm Ripple is persisting, with both sides currently tussling over financial statements.

Specifically, the regulator had previously filed a motion to compel Ripple to disclose its financial statements for 2022-2023 and post-complaint contracts.

In the latest development, Ripple has countered the SEC’s demand by filing a motion challenging it. Defense attorney James Filan, in a post on X (formerly Twitter) on January 19, revealed that Ripple deemed the motion ‘untimely.’

At the same time, XRP technical analysis reveals bearish sentiments, with a summary of one-day gauges indicating a ‘sell’ rating at 15, moving averages are for ‘strong sell’ at 13, and oscillators align with ‘neutral’ sentiment at 8.

Overall, since XRP lost its support level at $0.60, analysts speculate that the token might experience further drops before a potential rally.

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