Ripple win draws close as Judge asks SEC to surrender former official’s speech on Ethereum
- Ripple got mixed results as Judge Sarah Netburn directed the SEC to surrender Hinman’s speech on Ethereum.
- The statement by the former director of corporation finance supports Ripple’s case; it questions the validity of fair notice defense.
- The close of expert discovery in the SEC vs. Ripple case could be delayed to February 28, 2022.
- Analysts believe that all eyes may be on Ripple price soon as the altcoin prepares for a recovery.
In the SEC vs. Ripple case, the payments giant achieved mixed results as the Judge ordered the regulator to release privileged documents. Proponents are bullish on Ripple price recovery and predict a rally in the altcoin.
Ripple price marches ahead, preparing for a recovery
Judge Sarah Netburn has ruled that the Securities and Exchange Commission must surrender the email with the former director of corporation finance, William Hinman’s speech on Ethereum. Proponents of the payments giant believe that Hinman’s speech could be instrumental in striking fair notice provided by the SEC.
The SEC argued that Ripple’s largest public holder Ripple Labs, traders and investors were aware of the altcoin’s status as security since 2013. However, Hinman’s speech comments on the status of Ethereum in 2018 and reveals the loopholes in the SEC’s arguments against Ripple.
Since December 2020, members in Ripple leadership have faced charges of selling security in violation of the federal securities law.
After a year of back and forth on documents and privileged information, the SEC has been asked to release the Hinman speech. This is considered a small win for the payments giant Ripple.
Sources close to the matter believe that expert discovery could be pushed to a delayed close on February 28, 2022.
Ripple price is on its path to recovery, and analysts believe that all eyes would be on XRP soon. @CredibleCrypto, an analyst and trader, thinks that Bitcoin and Ethereum have swept their wick lows, while Ripple price has held through the recent correction.
The path of least resistance for Ripple price is up.
While $BTC recently swept our wick lows at 42k and ETH dumped even further below its own, $XRP has held up incredibly well through this correction and has not gotten close to its own wick lows. Path of least resistance seems to be UP. All eyes may be on $XRP soon. pic.twitter.com/VHg5Spn3t8
— Credible Crypto (@CredibleCrypto) January 14, 2022
FXStreet analysts have evaluated the Ripple price trend and predicted that the altcoin looks ready to bounce up to $0.96.
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.
