- Ripple Executives, in a recent filing, notified the court of their unavailability for two weeks in April 2024.
- The notice comes as the court seeks to set a final pretrial conference schedule.
- The dates chosen by the top executives coincide with Bitcoin Halving, thus raising some suspicions.
Ripple CEO Brad Garlinghouse and executive chairman Chris Larsen have informed the court of their unavailability for two weeks in April 2024, a court filing reveals. The notice follows the court’s order to schedule the final pretrial conference in the SEC-Ripple lawsuit.
Notably, the filing sent to Judge Analisa Torres says the top executives will be available between April 1 to April 14, 2024. Even though the executives gave no reason for the unavailability, the dates chosen by the executives stirred some suspicions.
The dates chosen coincide with the period when the Bitcoin Halving is expected to happen. The Bitcoin Halving is a landmark event that sees the network reduce its mining rewards over time.
Data from Bitcoin Halving countdown trackers shows April 14 as the day the network is expected to drop its reward to 3.125 BTC. While the event is significant in the crypto ecosystem, its occurrence is also associated with historical bull runs.
Crypto prices typically rally in response to the Bitcoin Halving, with significant price surges coming and after the event. While the unavailability of the executives may be unrelated, it raises speculation as to a possibility.
Elsewhere, XRP, the cryptocurrency used by Ripple Labs, has shed most of the gain it made after the ruling in July. While overall market correction affected the token’s price, the recent interlocutory appeal motion approval contributed to the decline. The motion granted by Judge Torres gives the SEC the green light to appeal her earlier decision in the SEC v. Ripple case.
Data from CoinMarketCap shows that XRP is exchanging hands at around 51 cents. The current price is far from the 83 cents it peaked at following the court ruling in July. Price-chart data also reveal that the token has lost 13% of its price in the past week and 30% over a 30-day period.
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