These are the latest developments in the SEC vs Ripple Lawsuit.

Ripple's legal team has denied the US Securities and Exchange Commission's (SEC) request for additional financial documents.

On January 19, the defense attorney rejected the SEC's request, saying it was untimely and unreasonable.

Ripple Challenges SEC Demands

The SEC has requested Ripple's audited financial statements for 2022 and 2023 with post-contractual agreements related to the sale or transfer of XRP to non-employee counterparties. In addition, the regulator requested information on the amount of XRP institutional sales proceeds from certain of the complaint contracts.

However, Ripple argued that the SEC's request was “irrelevant”, and both parties agreed that findings made after the previous order were not necessary. The firm also argued that the SEC failed to adequately explain each request.

While expressing concern about potential delays, Ripple believes that re-evaluating whether its conduct after compliance violates the law will prolong the case, requiring an intensive and lengthy fact-finding period. Lawyers have raised concerns that the SEC's summary process could undermine the protections of a standard pre-litigation investigation.

Further, Ripple's counsel argued that the regulatory body cannot unilaterally extend its inquiry into the matter. Therefore, Ripple has requested that the SEC's request be dismissed, calling it “burdensome,” especially since the deadline has passed.

“The SEC's unreasonable and burdensome post-complaint discovery request, especially if fact discovery is imminent, must be denied,” the attorneys wrote.

This latest development comes against the backdrop of an ongoing legal dispute between Ripple and the SEC. Although Ripple did not guarantee the safety of the public with the sale of the XRP token last year, the company expects future challenges. Especially since the trial between the disputing parties will start in April, which makes the situation complicated.

Read more: Ripple (XRP) Price Prediction 2024/2025/2030

Meanwhile, the XRP token has had little impact despite trading mostly in negative territory over the past week. The digital asset showed a decrease of 5% during this period, reaching a low of $0.526. However, it subsequently rose to $0.5484.