SEC vs. Ripple effect and everything to know about XRP’s latest feat
After months of tussling with the SEC, Ripple finally managed to gain an upper hand in the case recently. And, this sparked excitement in the crypto community.
After reviewing the facts of the case, Judge Torres directed the SEC to release documents written by former SEC Corporation Finance Division Director William Hinman.
The document popularly known as the “Hinman speech” has been of utmost importance in the SEC vs. Ripple case for quite some time now.
<p lang=«en» dir=«ltr» xml:lang=«en»>Ripple going to go full send mode $XRP pic.twitter.com/276BsCVlSf— Johnny (@CryptoGodJohn) September 29, 2022
District Court Judge Sarah Netburn’s ruling conveyed that emails and speech drafts were not covered by the deliberative process privilege, as the SEC had argued. However, Judge Torres overturned the decision and asked the SEC to comply with the release of the documents.
This definitely brought joy to XRP investors. Soon after this episode, the alt registered a promising gain and was trading 11% higher than 29 September.
However, the point of discussion remains- whether this recent hike was just an outcome of the ongoing hype or if there was anything concrete supporting the uptick. Interestingly, a look into XRP’s on-chain metrics provided some light on this matter.
The community’s excitement around XRP was no surprise. Investors and traders were going gaga over XRP after the news broke.
Furthermore, LunarCrush’s data highlighted some bullish stats as the coin’s social engagement and social contributors metrics increased considerably.
<p lang=«en» dir=«ltr» xml:lang=«en»>We are noticing increased $XRP social activity along with its price +9.50% today Read more on ambcrypto.com
