The Ripple and SEC lawsuit has been continuing at a fast pace. A while back, Ripple scored a significant victory when the documents showing the corrupt nature of the SEC were revealed. And now, the SEC’s motion to seal objections to Amici’s participation was also turned down by the court. This is also positive for Ripple, and even the token’s price jumped after the announcement.
SEC’s motion and court’s ruling
The SEC has recently requested to seal the case, which would mean it wouldn’t be visible on general records. The reason cited by them was the objection to the brief of 6 XRP investors on Patrick Doddy, one of the commission’s experts. The jury not only rejected the motion to seal by also ordered them to file a redacted version of the brief by June 14 to protect information which was the main goal of the seal.
This is major because the case seems to have become one-sided now. Even though XRP hasn’t won yet, the weight is on their side after the two latest victories. The SEC has also been found to contradict its own statements and views. Therefore, they are claiming that the emails leaked a while ago are protected by the attorney-client privilege.
The SEC’s motion to seal wasn’t entirely granted by it was given the order to redact parts of the statement by June 14. These redactions will be protected. Plus, the reason for the motion to seal being rejected was also the rationale that SEC cited. They said that there might be a safety issue with Patrick Doody, but XRP points out that in their request letter, 4 out of 5 reasons do not point to a risk to life.
The Ripple XRP case might be concluded soon
The case is expected to be over by the end of this year. Some reports also suggest that XRP investors might be able to celebrate Christmas with a victory in this lawsuit. And since the evidence and statements already seem to be in XRP’s favor, it is plausible that the case might be concluded even sooner. If so, it will take off a huge boulder over XRP’s price, and we might see a rally.
What are your thoughts on SEC’s motion to seal objections getting rejected by the judge? And do you think that XRP will win the lawsuit soon? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
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