Court judge denies the SEC’s Motion to Seal the Hinman documents


Ripple (XRP) token surged by 8% within a few hours, following good news in the XRP lawsuit against the US SEC body. 

As we know, Ripple (XRP) vs the United States Securities and Exchange Commission (SEC) fight has been going on since Dec 2020, over the nature of the XRP token & Ripple’s business with the XRP token. In December of last year, the US SEC filed a motion to seal a document containing a statement passed by a former SEC official over the nature of Ethereum (ETH). 

In the latest, the court judge ruled that the SEC agency can’t seal those documents. 

Ripple CEO Brad Garlinghouse said that the latest court decision is a type of win for Ripple in the case. 

William Hinmam on Ethereum

In June 2018, the former SEC corporation finance division director William Hinmam commented on the nature of Ethereum (ETH) as a non security asset, and at the time many emails & messages took place regarding his statement. The whole official statements & activities about Ethereum by the SEC official is available in a document.

In December of last year, the SEC filed a motion to keep those documents in the private domain but now probably there is no chance for the SEC body to hide those documents. 

Ripple lawyers are fully confident with that document because the statement passed by a former SEC official will help them to use that statement for the XRP token also. 

XRP price action

The current trade price of the XRP token is $0.4561 & this trade price is 7.22% higher than the last 24 hours’ trade price. The price graph is clearly showing that the latest court ruling brought better confidence among the XRP traders. 

Court judge denies the SEC's Motion to Seal the Hinman documents 1

Read also: OpenAI founder is in talks to raise $100M ahead of the launch of the Worldcoin blockchain protocol