The Ripple vs SEC lawsuit takes another turn as Senior District Judge Phyllis J. Hamilton has approved Ripple CEOBrad Garlinghouse
With new developments emerging daily, the stakes have never been higher. Let’s dive into what this ruling means for XRP and what comes next.
Following the decision, XRP saw a 1.70% price jump, reaching $2.31. However, it has struggled to break through the critical $2.51 resistance level, despite positive news regarding Trump’s pro-crypto administration. There’s also growing speculation about a meeting between Trump and Ripple’s CEO, with many anticipating that the former president’s administration could resolve the Ripple case by year-end.
The court’s decision to seal certain documents aligns with the Ninth Circuit’s “compelling reasons” standard, which balances protecting confidential information with the public’s right to access. Ripple’s motion covers eight exhibits related to their summary judgment and 56 exhibits opposing the plaintiff’s motion. On the other side, the plaintiff requested to seal portions of exhibits with sensitive personal or confidential information.
The court also agreed to the SEC’s request to seal parts of its own exhibits, including those containing expert testimony. The judge found that both sides had valid reasons for keeping these materials private, ensuring fairness as the case moves forward.
Now, all eyes are on the SEC’s next move. The regulator is preparing to file its main appeal brief, which could greatly influence the outcome of this high-profile case. Some legal experts, including Jeremy Hogan and former SEC lawyer Marc Fagel, believe the appeal might not go far. They argue that pro-crypto voices, such as Paul Atkins, could push the SEC to reconsider its position.
This legal battle has become a defining moment for the crypto industry. Ripple’s victory in the summary judgment dealt a major blow to the SEC’s argument that XRP is a security. As the case moves to appeals, the final decision could set a precedent for how cryptocurrencies are treated in the U.S.
For now, Ripple’s success in protecting sensitive information is a minor yet significant win, allowing the company to focus on the larger battle ahead. The crypto community will be closely watching as the SEC files its appeal and the case progresses.
On the technical front, XRP is currently in a consolidation phase, a common “cooling-off” period after big price moves. While this sideways action might seem dull, it often sets the stage for significant future movements. Investors should remain patient and watch key levels, as a breakout above $2.51 could spark a rally. Broader market trends, like Bitcoin’s performance, may also influence XRP’s next big move.
Ripple’s fight is far from over, and as the case moves to its next phase, all eyes will remain on the courtroom, where history may be in the making.
No, the case is not over. It’s now at the appeals stage, with both sides filing motions and awaiting further legal developments.
No, the XRP lawsuit is not settled yet. The case is ongoing, with Ripple and the SEC still in legal proceedings, now entering the appeals stage.
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