Ripple vs. SEC: Crypto Community Accuses SEC of Mischief as Agency Holds Back Crucial Internal Documents
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However, the scale has since tipped against the SEC as the agency has remained on the defense. The Commission has concerted its efforts to conceal several critical internal documents from making it to the basket of evidence in the case.
Some SEC internal documents, like Hinman’s 2018 speech and the Estabrook Notes, are said to have enough sway to end the long-drawn lawsuit.
The regulatory watchdog has filed several motions to prevent these relevant documents from making it to the courts, arguing that they are protected by the Deliberative Privilege Process (DPP).
The Commission also argued that these documents stood only for individual opinions and, thus, could not serve as exhibits for public guidance.
That said, the SEC’s efforts to protect these crucial internal documents have raised distrust and suspensions in the cryptocurrency community, with many arguing that the agency is hiding more than the reasons it is letting on.
Ripple previously noted that Hinman’s 2018 speech assessed the company’s native token XRP and adjudged that the coin was not a security but a currency.
Key Ripple Levels to Watch — March 28
Ripple has extended its gains for the third consecutive day as the broader cryptocurrency market reestablished a bullish bias, with Bitcoin breaking the $47K barrier. In the last few hours, XRP tapped the $0.9000 top for the first time since early February.
The sixth-largest cryptocurrency recorded a rejection from the previously mentioned resistance, falling to the $0.8800 support. That said, another failed attempt at the $0.9000 barrier could trigger a much higher pullback to $0.8200 in the coming days as trading conditions enter overheated territories.
However, bulls can allow a mild correction to the $0.8500 in the coming hours, where they can build more momentum from dip-buyers and charge towards the $1 round figure.
Meanwhile, my resistance levels are $0.9000, $0.9275, and $0.9500, and my support levels are $0.8800, $0.8500, and $0.8250.
Total Market Capitalization: $2.15 trillion
Ripple Market Capitalization: $42.5 billion
Ripple Dominance: 1.98%
Market Rank: #6
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