XRP Crypto News: Victory XRP’s latest lawsuit to watch by fans

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Lovers XRP (CCC:XRP-USD) cheer for the latest developments in the ongoing legal battle between cryptocurrency developers and the U.S. Securities and Exchange Commission (SEC).

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Ripple Labs, a U.S. technology company behind the XRP cryptocurrency, remains involved in a lawsuit with the SEC over allegations that its executives were involved in $ 1.3 billion in unregistered securities trading. The legal battle affected the price of XRP, which fell to 18 cents before recovering and is now trading at 76 cents. Several leading cryptocurrency exchanges and trading services have stopped offering XRP while the SEC lawsuit is pending through the courts.

However, proponents of the XRP cryptocurrency are looking forward to the latest twist in the drama in the courtroom after a federal judge ruled that the SEC should provide Ripple with key emails that could benefit the cryptocurrency developer’s defense.

What happened to XRP Crypto

Judge Sarah Netburn of New York County County ruled it was The SEC must surrender for Ripple email with a draft of former director William Hinman’s speech on whether Ethereum (CCC:ETH-USD) is a legal security. The decision is important because it opens the door for Rippl to access a number of SEC documents that the Wall Street regulator has so far claimed to be “confidential information” and should not be brought to court as part of the disclosure process.

Gaining access to e-mail and some related notes could help Rippl in its defense and provide insight into how the SEC and its senior management view cryptocurrencies and the trading of digital coins and tokens. The SEC is suing Ripple staff for selling the cryptocurrency XRP in violation of federal securities law, as XRP is not currently classified as a registered security.

Why it matters

Judge in the case ruled against the SEC and in favor of Ripple, and the decision gives the Ripple legal team access to documents that could shed light on how the regulator thinks about digital coins and tokens, such as XRP. Ripple attorneys will break down these documents for information that can help the cryptocurrency developer prevail in court.

Positive legal developments are also potentially good news for the price of XRP, which has risen or fallen over the past year with each development in the SEC case. They have been XRP for the last 12 months the price has twisted from a low of 25 cents to a high of $ 1.96 before stabilizing at the current level of 76 cents. The price of cryptocurrency was unchanged at the time of this writing.

What’s next

The legal saga that has become the “United States v. Ripple” is far from over. The court battle could drag on for many years. While it is running, the cloud will continue to hang over XRP. But the latest developments in the case clearly favor Ripple and its defense, and this is good news for investors who are in favor of digital assets.

On the day of the publication of Joel Baglole did not hold (directly or indirectly) any positions in the securities referred to in this Article. The opinions expressed in this article are those of the author and are the subject of InvestorPlace.com Guidelines for publication.

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