Ripple Litigation: What’s Happening in the XRP and SEC Litigation?

Payments giant Ripple and the U.S. Securities and Exchange Board (SEC) have sent out summaries of responses to each other’s motions for summary resolution. Both parties talk about the parts of the abstracts they want to be edited and the documents submitted. In addition, the Hinman papers, which are critical to the Ripple case, are now in the paperwork. Analysts say that if XRP breaks through the $0.55 level, the uptrend will reverse.

Ripple Litigation: Advisor confirms Hinman documents have been procured

Payments giant Ripple is one step closer to victory in its battle against the US regulator, the Securities and Exchange Commission (SEC). On October 21, Ripple general counsel Stuart Alderoty confirmed on Twitter that after eighteen months and six court orders, they finally have the William Hinman speech and documents.

The speech and related paperwork by William Hinman, Former Director of the Corporate Finance Division of the Securities and Exchange Commission, is currently in the custody of Ripple’s attorney. Ripple general counsel Stuart Alderoty confirmed that they now have the documents, including the Hinman speech, in which the former SEC executive commented on Ethereum’s non-securities status. It took eighteen months and six court orders to obtain these documents. After all this, the lawyer is now able to access the paperwork. Regarding Alderoty’s bet, he said:

It was worth fighting to get them. I’ve always felt right about our legal discussions. I feel even more competent now. I’ve always had a terrible feeling about the SEC’s tactics. I feel even worse about them now.

Ripple, one step closer to victory, a turning point for the price?

The attorney battled over paperwork related to Hinman’s 2018 speech to prove a point in Ripple’s defense. The financial regulator did its best to keep the documents out of discussion and out of reach of Ripple advisor. However, now the situation has changed.

With access to the defense, speech, and related paperwork, it’s possible for software giant Ripple to win the case. He will now strive to gain this position. SEC v. The latest update in the Ripple case is that both parties have submitted summaries in response to each other’s actions for the summary decision. They also submitted a large number of documents. They also discussed the parts of the summaries they wanted to be edited.

Fans argue that software giant Ripple is in a strong position. That said, details of the briefings are scheduled to be made public on Monday. Crypto analyst and trader, nicknamed FeraSY1, says that XRP will regain its bullish momentum. In this direction, he notes that if the altcoin exceeds the $0.55 level, a trend will reverse.

XRP price chart

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