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Why is XRP on the rise? Two expected news items can be announced at any time

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Two very important decisions can be announced at any time for Ripple’s future, whose lawsuit has been pending with the United States Securities and Exchange Commission (SEC) for about 1.5 years. Judges Sarah Netburn and Analisa Torres will decide on long-debated issues of fundamental importance to the course of the trial.

Reporter broke the news, XRP is on the rise

Elanor Terret, a correspondent for Fox News from the US media and who provides important information on the case from time to time, said that judges Netburn and Torres, including today, can conclude two important decisions. Terrett, today and in the next few days, will decide whether William Hinman’s speech falls within the attorney-client privilege and the SEC’s objection to an informative participation request from John Deaton, a Ripple supporter but currently unrelated to the case. . .

According to information Terrett based on John Deaton, speaking with attorney John Deaton, these two decisions can be announced at any time. After the Fox reporter’s tweet, there has been a very serious increase in the price of XRP since the morning hours. XRP, which was up more than 20%, has approached the $ 0.40 limit.

Hinman’s speech which has been delivered since the beginning of the case …

As is well known, William Hinman, one of the former SEC executives, said in a speech given in 2018 that Bitcoin and Ethereum are not stocks. The Ripple side, on the other hand, claims that XRP has serious similarities to Ethereum in some matters and argues that XRP shouldn’t be a security, and demands that files relating to preparations and speeches made within the institution be presented. to court before Hinman’s speech.

The SEC, which disputes this request, argues that Hinman’s speeches are subject to solicitor-client confidentiality and government agency and should not be disclosed to the court. Here, Sarah Netburn, one of the judges of the case, can announce her official and final decision on this issue at any time.

Netburn showed his hand

However, one of the important points here is that Judge Netburn has expressed his views on this issue in previous hearings … Netburn actually ruled that the Hinman files were brought to court, but the SEC, which had the ultimate right to object. , he used this Giusto.

Netburn had opposed the SEC’s request that Hinman’s files remain confidential, and also the view that the speech was not binding on the SEC and was Hinman’s personal opinion. Netburn criticized the SEC, saying it was unreasonable to seek both personal opinion and confidentiality.

The request for expert opinion will also be decided

John Deaton, known for his support of Ripple but has no official ties to the case, filed an official application with Judge Analsa Torres following Patrick Doody’s report, which was brought to court as an expert by the SEC, stating that XRP investors do not were victims, he said he wanted to participate.

John Deaton’s request will also be decided by Judge Torres. Deaton will conduct a court assessment on behalf of 67,300 “victimized” XRP investors.

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