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The just-arrived decision caused the XRP Coin price to quickly rise above $0.43. It is an important win and the end of the case is approaching. Despite the unpleasant situation of the Bitcoin price, XRP Coin reached the highest level of the day.
Ripple Case Breaking News
Judge Torres denied the SEC’s request to seal the Hinman documents. The SEC wanted these documents to remain confidential. XRP Coin price rose as high as $0.4350 after the news and surpassed its daily peak. This news was a development in favor of XRP and is a decision that puts the SEC in a difficult situation. The XRP Coin case, which will set a precedent for cryptocurrency investors, is being closely monitored. If the SEC achieves a decisive victory in this case, it will use it in its securities cases against other cryptocurrencies.
The Hinman documents say the exact opposite of what the SEC claims today. The SEC, which was silent about which altcoins were securities and which were not, was making much bolder statements than before. These bold statements are now coming back to haunt it. This decision in favor of Ripple regarding the Hinman documents may cause investors to buy more with the motivation of “we are winning the case”. But now this decision does not represent a huge win that will affect the outcome of the case.
Ripple Lawsuit
Ripple is ready for any outcome in this case. Even if it loses the case, the fact that XRP Coin will be free after the compensation it will pay motivates investors. More importantly, thanks to the win in the LBC Token case, XRP Coin will continue to be traded on exchanges even if it loses the case. In other words, XRP Coin will be the second asset in all cryptocurrency markets, after Bitcoin, to stay out of SEC trouble.
Nowadays, the SEC Chairman says that he considers all altcoins, especially ETH, as securities. This is worrying because XRP Coin’s litigation has caused it to take a serious financial and moral hit. Ripple is a big company, but most altcoins don’t have the same capitalization. So there is a possibility that they may not survive this legal battle.
For now, Ripple is one step closer to victory. The news that will come in the next process will allow us to see whether the case will be concluded in the next few days.
