- The latest development in the ongoing SEC vs. Ripple lawsuit is that documents are classified as privileged and blocked for public viewing.
- Though institutional investors are yet to take big bets on the altcoin in 2021, retail investors are actively trading in XRP.
- One veteran trader expects XRP price to climb higher in the long-term.
Since XRPArmy and lawyers in the crypto ecosystem consider the US Securities & and Exchange Commission’s (SEC) move to pull documents out of public view as evidence that the case is coming to a close, a Ripple win appears more likely.
Outcome of SEC v. Ripple case may trigger a rally in XRP
The SEC has filed a motion to protect documents requested by Ripple from public viewing.
The XRPArmy, proponents and supporters of XRP, have unearthed one of the 13 entries that count as internal SEC documents in the case.
A speech draft of William Hinman,, former SEC director of Corporation Finance, is enclosed as an entry in an email submitted for review and comment by SEC officials.
Pseudonymous XRP proponent @digitalassetbuy believes that Hinman’s speech came from a collection of people’s opinions.
Hinman’s speech is considered critical to the outcome of the case since he delivered a speech declaring that Ether is not a security in June of 2018. Back then, Hinman argued that he had warned Ripple about XRP and advised the company to halt its sales.