Judge Torres unseals confidential documents in SEC vs. Ripple case, XRP continues uptrend
- The latest ruling by Judge Torres unseals emails to Chris Larsen and Brad Garlinghouse.
- Torres has provided Ripple the opportunity to respond to the SEC's motion to strike the fair notice defense.
- Ripple's new strategic partnership announcement and update on the lawsuit fuel investors' bullish outlook.
- Analysts predict an explosive rally in Ripple price as the altcoin forms a symmetrical triangle.
Judge Analisa Torres has granted and partially denied the defendant's request to seal exhibits in the SEC v. Ripple case. Proponents believe that the lawsuit could get more interesting for Ripple with major rulings in the case.
SEC vs. Ripple case takes another turn; investors turn bullish
Attorney Jeremy Hogan, a proponent of Ripple, believes that the next couple of months could be interesting in the SEC vs. Ripple lawsuit. Major rulings in the case are lined up as Judge Analisa Torres accepts and denies in part Ripple and the individual defendant's request to seal exhibits.
There's only one major takeaway from this Order on the Ripple v. SEC case:
— Jeremy Hogan (@attorneyjeremy1) February 3, 2022
Judge TORRES is getting ready to take over.
The next couple months will be very interesting with all the major rulings that are being teed up! https://t.co/FLcKyMhVzF pic.twitter.com/t6CKa02qsI
In a recent update, Judge Torres ordered three unsealed documents: 172-1, the notice of Brad Garlinghouse's deposition in the SEC formal investigation, 179-4, a Chris Larsen email string, and 179-5, a Brad Garlinghouse email.
Following an order of public release of documents filed on both the SEC and Ripple's side, Judge Torres has granted the payment giant's request to file a response to the motion to strike fair notice defense.
Ripple filed a motion to submit a response on June 7, 2021, following Judge Torres's ruling that it is due on February 9, 2022.
The recent news of Ripple's partnership with Modulr that offers payments-as-a-service combined with the outcome of Judge Torres' ruling has fueled a bullish sentiment among investors.
@DefendDark, a crypto analyst, evaluated the Ripple price trend and predicted a 30% rally as the altcoin eyes target at $0.90. The analyst notes that Ripple has formed a symmetrical triangle and maintaining support at $0.59 hints of an imminent rally in the altcoin.
Hi there all. #XRP formed a symmetrical triangle in the 4H Chart. Please keep an eye on the $0.59 support.
— Dark Defender (@DefendDark) February 4, 2022
IF this is maintained, XRP can touch $0.75 - $0.90 in 5 days
Supports: $0.59, $0.51
Resistances: $0.63, $0.75
Have a great weekend!#XRPCommunity#XRPArmy#Ripple pic.twitter.com/imfMW82864
FXStreet analysts believe that the Ripple uptrend is limited to $0.70.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
