XRP Price Soars After Judge’s Ruling in Ripple vs. SEC Case

Mai 17, 2023 0 Comments

• Judge Analisa Torres ruled against the SEC’s motion to seal Hinman’s speech-related documents.
• The ruling comes months after another judge Sarah Netburn directed the SEC to surrender Hinman’s speech documents to Ripple.
• At press time, XRP was trading at $0.4458, up 5.65% in the last 24 hours.

SEC vs Ripple Legal Fight

The legal fight between the US Securities and Exchange Commission (SEC) and Ripple has been ongoing for years now. The final ruling on the case is expected to have a major impact on the entire crypto space. Ripple is planning to use Hinman’s speech document to prove that the SEC is biased against it.

Judge Rules Against SEC Motion

US district Judge Analisa Torres recently ruled against the SEC’s motion to seal Hinman’s speech-related documents. This ruling comes months after another judge, Sarah Netburn, directed the regulatory agency to surrender Hinman’s speech documents to Ripple. Following this news, XRP’s price surged by 5.65%, reaching $0.4458 at press time.

Hinman’s Documents Could Influence Court Ruling

Accordingly, Judge Torres said that these documents could influence the court’s ruling on the case and thus should not be sealed from public access as per requested by the SEC in its motion filed last December 22nd . This decision upholds previous rulings made by Judge Netburn who stated that since these documents are necessary for judicial purposes, they must not be hidden away from public view or withheld from Ripple attorneys during their preparation of defense in this case..

What Are Hinman’s Documents?

William Hinman served as director of Corporation Finance at the SEC until 2018 and his speeches contain preliminary opinions and explorations of XRP tokens along with statements regarding Ethereum’s Ether (ETH) being a non-security asset class . These assessments may play an important role in deciding how this case concludes and whether or not XRP will be considered a security token going forward or remain as a cryptocurrency asset class outside of securities regulation in accordance with prior commentary provided by Mrhin man himself .

Conclusion

The outcome of this legal dispute between Ripple Labs and US regulator will have far-reaching implications on many aspects related to cryptocurrencies both domestically within America but also globally across multiple jurisdictions worldwide – so it remains an issue worth keeping close tabs on as events unfold over time .