Ripple vs. SEC: Judge Overrules SEC’s Attempts to Protect Hinman Documents
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In the speech, Willam Hinam was recorded saying that Ethereum (ETH) is not a security. The defendants have described the speech as a key piece of evidence in their defense, proving that the XRP sale of 2013 was not illegal or in violation of the securities laws as the SEC claims. Regardless, it has yet to be verified if the language used by Hinman is of any use for Ripple’s defense.
The letter filed by District Judge Torres on September 29 detailed:
“The Court has reviewed the remainder of the thorough and well-reasoned Orders for clear error and finds none. Accordingly, the Court OVERRULES the SEC’s objections and directs the SEC to comply with the Orders.”
Meanwhile, Judge Sarah Netburn recently ruled that the controversial email drafts are not protected by the deliberative process privilege (DPP), as claimed by the US Securities and Exchange Commission. Following the ruling, the regulatory watchdog claimed attorney-client privilege over the topic, however, Judge Netburn ruled against that as well.
Key Ripple Levels to Watch — September 30
Ripple (XRP) has confirmed my longstanding trendline as a strong support area for the cryptocurrency, following a retest and rejection from the line on Wednesday and Thursday.
This tripwire should guide the cryptocurrency along an upward-facing path over the coming days and weeks. This line will be especially useful as we head into the final stages of the long-drawn Ripple vs. SEC lawsuit, which appears to be tilting towards a favorable end for the former.
Meanwhile, my resistance levels are $0.5000, $0.5200, and $0.5500, and my support levels are $0.4600, $0.4200, and $0.4000.
Total Market Capitalization: $944 billion
Ripple Market Capitalization: $23.7 billion
Ripple Dominance: 2.5%
Market Rank: #6
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