- The payment giant Ripple and the US regulator Securities and Exchange Commission have filed reply briefs to each other's motions for summary judgment.
- Both parties are speaking about the parts of the briefs they want redacted and filed exhibits.
- Analysts believe if XRP price crosses the $0.55 level, it would witness a bullish trend reversal.
Payment giant Ripple inched closer to victory in its battle against US regulator Securities and Exchange Commission (SEC). On October 21, Stuart Alderoty, Ripple general counsel confirmed on Twitter that they finally have the William Hinman speech and documents after eighteen months and six court orders.
Also read: Bitcoin, Binance Coin, XRP and Cardano prepare for November rally, traders in euphoria
Ripple counsel confirms that Hinman documents are procured
The speech of William Hinman, Former Director of the Securities and Exchange Commission's Division of Corporation Finance and related documents are now in the custody of Ripple counsel.
Stuart Alderoty, Ripple general counsel confirmed that documents including the Hinman speech where the former SEC executive comments on Ethereum’s status as a non-security, are now in their possession. After eighteen months and six court orders of requesting the possession of these documents, counsel now have access to it.
Alderoty was quoted as saying,
It was well worth the fight to get them. I’ve always felt good about our legal arguments, and I feel even better now. I always felt bad about the SEC’s tactics, and I feel even worse about them now.
The counsel fought over documents related to the 2018 speech by Hinman to prove a point in Ripple’s defense. The financial regulator pulled out all the stops to keep the documents out of the discussion and out of Ripple counsel’s possession, however the situation has changed.
With access to the speech and related documents, the defense is ready to reclaim software giant Ripple’s position as winner of the lawsuit. The latest update in the SEC v. Ripple case is that both parties have filed reply briefs to each other's motions for summary judgment. They also filed numerous exhibits and discussed the parts of briefs that they want redacted.
Proponents argue that software giant Ripple is in a strong position; details of the briefs are scheduled to be made public on Monday. @FeraSY1, crypto analyst and trader believes XRP price could regain its bullish momentum and witness a trend reversal if the altcoin crosses the $0.55 level.
XRP-USDT price chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
SEC doubles down on TRON's Justin Sun lawsuit dismissing claims over jurisdiction
The SEC says it has jurisdiction to bring Justin Sun to court as he traveled extensively to the US. Sun asked to dismiss the suit, arguing that the SEC was targeting actions taken outside the US.
XRP fails to break past $0.50, posting 20% weekly losses
XRP trades range-bound below $0.50 for a sixth consecutive day, accumulating 20% losses in the last seven days. Ripple is expected to file its response to the SEC’s remedies-related opening brief by April 22.
ImmutableX extends recovery despite $69 million IMX token unlock
ImmutableX unlocked 34.19 million IMX tokens worth over $69 million early on Friday. IMX circulating supply increased over 2% following the unlock. The Layer 2 blockchain token’s price added nearly 3% to its value on April 19.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?