Ripple vs. SEC : Commission Appeals To Seal Expert Details

Traders, especially XRP holders and investors, are closely watching the daily developments of the Ripple vs. SEC case. Yesterday, July 23, SEC opposed the court's decision to produce the Hinman-related documents and also filed an appeal to seal some parts of the July 12, 2022 filings.

Timeline of Xrp

The conflict between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs rages on as the SEC contests a significant court decision. James K. Filan, a cryptocurrency lawyer, covering the SEC vs.

Ripple's XRP price ever since lost positions above $0.55 during the May crash and has severely remained drained under waters since then. The asset does not appear to have made any attempts to regain the bullish momentum and lay down a strong uptrend.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Bitcoin [BTC] faced resistance at the $24.2k mark and the bulls were rebuffed in their attempt to drive prices higher.

The U.S SEC on Friday filed a motion to seal some portions of the parties' filings from July 12, 2022. It mentioned that this is in connection to their motions to exclude expert testimony.

U.S. Congressman Brad Sherman has urged the U.S. Securities and Exchange Commission (SEC) to go after major cryptocurrency exchanges that traded xrp, which the regulator deems a security.

The U.S SEC has been shielding the infamous Hinman Ethereum speech related documents for a long time. However, the Ripple and defendants have filed their opposition to the commission's appeal to submit a length brief in support of its objection to Judge Netburn.

The Ripple vs. SEC case was filed in December 2020 and is making headlines to date.  Initially, the lawsuit was based on the allegations that Ripple raised $1.3 billion through illegal means and its native coin, XRP, is a security. Among many exchanges of arguments, William Hinman's speech stands out.

Ripple price in recent times has been moving sideways within a very narrow range, facing constant rejections while on its way to $0.4. Most of the altcoins along with Bitcoin, currently, are displaying huge bullish momentum.

The Securities and Exchange Commission's case against Ripple Labs lingers, and the most recent of events has seen the U.S. regulatory body hit hard by an unfavorable ruling. A judge presiding over the suit has repudiated the SEC's attorney-client protection claim as a reason not to release documents pertaining to the Hinman speech.

The host of Coin Bureau says the latest news about XRP is bullish for the seventh-largest crypto asset by market cap. In a new video, pseudonymous analyst Guy tells his 72,400 subscribers that Ripple co-founder Jed McCaleb has finally sold all of his XRP holdings.