Cardano’s gig, IOHK weekly report, Hoskinson’s comments, all hint at…
How these new ‘money laundering’ claims tie into the Terra UST depegging fiasco
Is Tether (USDT) losing the stablecoin war against USDC and BUSD
Tezos [XTZ]: Taking a closer look at why a further 10% rally is on the cards for XTZ
How this development in the Ripple vs SEC case sent XRP prices rallying
Bitcoin: Despite its recent roller-coaster ride, why are investors bullish on BTC
Bitcoin: Bull run or a bear halt? Here’s what crypto analysts are suggesting
‘Undervalued’ Bitcoin [BTC] gets new profit-seekers in the form of…
Bitcoin: How long-term holders’ capitulation can signal a potential bull run for BTC
Is Bitcoin’s [BTC] consolidation at $30k setting up buying opportunity
Ethereum [ETH] and what’s to come with the ‘Merge’s’ first testnet run underway
To Ethereum or not? Here’s what the ApeCoin community is deciding
Can Ethereum 2.0 encourage $350 million worth of institutional investment
Was it a lot of May-hem for OpenSea Ethereum and Polygon last month
ETH 2.0 is coming and $950M worth of inflows suggest….
XRP, the native token for Ripple witnessed a fresh jolt of freshness in its price. At the time of writing, XRP saw a 1.5% surge as it traded above the $0.4 mark. Even though it wasn’t a significant surge, but could indeed help the cause. But what led to this?
The litigation between the U.S regulatory board (SEC) and the San Fransico based fintech firm (Ripple) has been witnessing different filings every day. But there’s one attribute that continues to align or follow the same trend – the Plaintiff’s (U.S SEC) attempts to delay the case.
According to a motion filed by Ripple and Individual Defendants, Chris Larsen and Brad Garlinghouse, the trio had objected to the SEC’s request to seal its opposition to the amici request to represent 67,300 XRP holders in Mr. Patrick Doody’s expert testimony challenge.
This reply came to light in response to a testimony of expert SEC witness Patrick Doody, whose report aimed to explain what motivated XRP holders to buy the token. Likewise, Deaton, as mentioned, sought to represent community members included in the litigation.
But looks like even the court has had enough. The Court denied SEC’s motion to seal the aforementioned request in a June 10 filing. James Filan, a famed attorney highlighted this filing in a June 10 tweet.
#XRPCommunity #SECGov v. #Ripple #XRP The Court denies SEC’s Motion to Seal and Orders it to file by June 14th a redacted version of the brief and exhibits, under seal, redacting information "only to the extent necessary to safeguard information sought to be filed under seal." pic.twitter.com/rtblZL40eH
— James K. Filan 🇺🇸🇮🇪101k+ (beware of imposters) (@FilanLaw) June 9, 2022
The Court further ordered the SEC shall file a letter explaining its proposed redactions and specifying which exhibits it sough to seal by 14 June, 2022. Essentially the Court agreed with Ripple and said that the SEC tried to seal more than necessary.
This indeed could be one of the key reasons for renewed enthusiasm amongst XRP holders.
In addition to this, Ripple Labs even filed a reply with regard to the deficiencies in the SEC’s responses to the Ripple Defendants’ Fourth Set of RFAs. Defendant tried to get Judge Netburn to look into inquiries about XRP received by OIEA and FinHub. Ergo, putting pressure on Plaintiff.
Different XRP enthusiasts expressed their optimism on the social media platform following this move. Another famous attorney, Jeremy Hogan commended the respective Judge in a tweet that read:
Judge Torres don't mess around.
— Jeremy Hogan (@attorneyjeremy1) June 9, 2022
Tezos [XTZ]: Taking a closer look at why a further 10% rally is on the cards for XTZ
Solana: Despite steady structural support, here’s why SOL is still not in the clear
Shubham is a full-time journalist at AMBCrypto. A Master's graduate in Accounting and Finance, Shubham's writings mainly focus on crypto-regulations across the United States and Europe. Also, a die-hard Chelsea fan #KTBFFH.
XRP: Untangling the potential effects of these two outcomes
Ripple submits supporting reply condemning SEC’s ‘deficient’ responses
BTC, ETH, SOL, XRP comb staggering weekly inflows and outflows figure
XRP: How Ripple’s IPO speculation is triggering whale activity on the chain
XRP, VeChain, and WAVES Price Analysis: 24 May
Does XRP have a chance of a bullish breakout? The metrics and indicators say…
Your email address will not be published. Required fields are marked *
Save my name, email, and website in this browser for the next time I comment.
Disclaimer: AMBCrypto's content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.