XRP gains 30% after Ripple gets permission to explain ‘fair notice defense’ vs. SEC

cointelegraph.com:

XRP price rose by nearly 30% in less than a week amid positive sentiment around the court case, in which the U.S. Securities and Exchange Commission (SEC) claims that Ripple sold XRP as illegal securities.

Judge Analisa Torres has granted Ripple permission to respond to the SEC's Memorandum of Law in support of Motion to Strike fair notice defense, according to court documents.

Additionally, Judge Torres also ordered to unseal three documents concerning the SEC vs. Ripple case, including Ripple's CEO Brad Garlinghouse's email thread and deposition notice and founder Chris Larsen's email string.

Markets received Judge Torres's orders positively. Soon after they made it to the wire, XRP's price rallied by almost 30%, rising from its Feb. 3's lowest level of $0.058 to as high as $0.782 on Feb. 7.

JUST ADDED to our Documents Library:✅Order by Judge Torres Granting in Part, and Denying in Part, Motions by Defendants @Ripple @bgarlinghouse @chrislarsensf to seal some exhibits to previous motions, and more (1/3) https://t.co/zubKVutRzE

The upside move picked momentum also as Jeremy Hogan, partner at law firm Hogan & Hogan, noted that the SEC vs. Ripple might be heading toward a verdict.

It's good because we are moving into the second phase of the case where "things" are going to happen.

The latest bout of buying in the XRP market also appeared as the token retested its multi-month support trendline, as shown in the chart below.

XRP now faces a resistance confluence ahead in the form of its 20-week (green) and 50-week (red) exponential moving averages (EMAs). Meanwhile, the two moving averages look poised to form a "death cross" should the 20-week EMA cross below the 50-week EMA — a classic sell signal.

Nonetheless, a decisive,