Ripple (XRP) Legal Defender Lauds Judge Torres’ Ruling As A Victory For The People
May 17 2023 - 1:30PM
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The legal battle between the United States Securities and Exchange
Commission (SEC) and Ripple Labs rages on as the community awaits
the summary judgment. While the wait continues, a recent ruling led
Pro-XRP Attorney Jeremy Hogan to applaud Judge Analisa Torres as
‘The People’s Judge’. Judge Torres ruled on public access to
the Hinman Speech document in the lawsuit between the SEC and
Ripple. After the ruling, the Pro-XRP lawyer Jeremy Hogan took to
Twitter to praise her. Ripple Attorney Hogan Applauds Judge
Torres Judge Torres denied the SEC’s motion to seal Hinman’s Speech
documents. The judge noted that they are vital judicial documents
portraying a strong presumption of public access. In her ruling,
Judge Torres stated, “The Hinman Speech Documents would reasonably
tend to influence ruling on a motion.” Through an attachment in his
tweet, Attorney Hogan noted that the Hinman Speech document could
impact the court’s final ruling in the lawsuit. Hogan thinks
that Judge Torres’ ruling aligns with the interest of the XRP
holders, Ripple Labs, and the entire crypto space. Also, the move
could impact the US crypto regulatory clarity. Related Reading:
Does The Bitcoin Price Dump Signal The Start Of Another Bear
Market? Before now, the XRP community called for more clarity and
access to details about the SEC’s accusation against Ripple.
Notably, the 2018 controversial speech by the former SEC’s director
Hinman has been a significant factor in the SEC vs. Ripple
lawsuit. In a speech in 2018, Hinman stated that Bitcoin and
Ethereum are not securities. However, he did not comment on XRP
though the token was the third-largest crypto asset during the
period. As such, the Silicon Valley-based blockchain firm Ripple
has requested the Hinman Speech document in court, but the SEC
denied it. Ripple wanted to discover the opinion attached to XRP
regarding Hinman’s controversial speech. Though the Commission
surrendered the document, it still filed a motion to keep the
documents sealed. But the recent ruling will unseal the document as
Torres has now approved public access. XRP Price Action The
excitement is increasing with the XRP community following the
recent SEC vs. Ripple case ruling. This achievement has shown a
notable influence on the price action of XRP within the past 24
hours. Related Reading: Bitcoin Reclaims $27,000, Here Are The
Factors Driving The Recovery At the time of writing, XRP is trading
at $0.4457, showing a surge of 0.72% over the past 24 hours.
According to CoinMarketCap, the XRP market cap currently sits at
$23.10 billion as the token ranks the 6th top crypto asset.
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