“Will XRP win in the near future?”
The Ripple (XRP) community may be about to find its victory after a judge reportedly rejected a motion by the Securities and Exchange Commission (SEC) of the United States (US) that wanted to seal the records of its internal discussions following the speech of former director William Hinman.
On December 22, 2022, the SEC filed a motion to seal internal emails, text messages and expert reports regarding the former SEC director's speech on the grounds of violating the public's right to access documents unrelated to the court's summary judgment decision .
However, Judge Analisa Torres in the US District Court insisted that the document was a judicial document subject to public access, adding that Hinman's speech should be disclosed because it would influence the court's decision.
In addition, Judge Torres also rejected the SEC's baseless argument and said that Hinman's speech documents would not be protected by the privilege at all since they were unrelated to the agency's position, decision or policy.
Although the court ruled that documents of Hinman's speech be made public, they have approved two SEC requests seeking the redaction of the names and information of SEC experts and declarants of XRP investors including personal and financial information of the defendants.
Still, XRP considered Hinman's remarks as key evidence in its ongoing legal battle with the SEC, which claims that the sale of the digital asset violated US securities laws.
Following the following news, the price of XRP has now managed to jump by 7.20% at the level of $0.45 in the last 24 hours with a market capitalization of $1 billion and has gained around 5.28% over the last week.
