In the ongoing legal battle between Ripple and the SEC, Senior District Judge Phyllis J. Hamilton has approved Ripple CEO Brad Garlinghouse’s request to seal certain court documents. This ruling also applies to the SEC’s motion to seal specific exhibits, marking a significant development as the case moves toward the appeals phase.
#XRP Lawsuit Update: Judge approves #Ripple and Brad Garlinghouse’s request to seal documents amid ongoing court appeals.
— Breaking Whale (@BreakingWhale) January 10, 2025
Following this news, the price of XRP saw a 1.70% increase, currently trading at $2.31. However, it has been unable to break through its key resistance level of $2.51, despite recent pro-crypto announcements from the Trump administration. Adding to the buzz, reports of a meeting between former President Trump and Ripple’s CEO have fueled speculation that the Ripple lawsuit might be resolved this year under a pro-crypto push from Trump’s administration.
Judge Approves Sealing Requests in Ripple vs. SEC Case
The court approved sealing requests from both Ripple and the SEC, finding they met the Ninth Circuit’s “compelling reasons” standard. This standard aims to protect confidential and sensitive information while balancing the public’s right to access court records.
Ripple requested to seal eight exhibits related to their summary judgment and 56 exhibits opposing the SEC’s motion. These documents contained sensitive and personal details. Similarly, the SEC sought to seal portions of its exhibits, including evidence linked to expert testimony.
The judge ruled that both parties had valid reasons to keep this information private, ensuring a fair process as the case advances.
Also Read: What is XRP (Ripple)? How does it work and its use cases?
XRP Awaits SEC Appeal Amid Expert Doubts and Pro-Crypto Push
The XRP community is now closely watching the SEC’s next steps. The agency is gearing up to file its main appeal brief, which could significantly impact the outcome of this high-profile case. However, some legal experts, including Jeremy Hogan and former SEC lawyer Marc Fagel, are skeptical about the appeal’s chances of success. They suggest that pro-crypto advocates, such as Paul Atkins, might push the SEC to rethink its position.
Ripple’s Legal Battle Could Redefine U.S. Crypto Regulations
This legal battle has become a turning point for the cryptocurrency industry. Ripple’s earlier win in the summary judgment dealt a significant blow to the SEC’s argument that XRP qualifies as a security. As the case heads to appeals, the final outcome could shape how cryptocurrencies are regulated in the U.S.
For now, Ripple’s success in protecting sensitive information marks a small but meaningful victory, allowing the company to concentrate on the larger fight ahead. The crypto community is keeping a close eye on the SEC’s upcoming appeal and how the case develops.
XRP Consolidation: Preparing for Potential Breakout
From a technical perspective, XRP is currently in a consolidation phase, which is a typical “cooling-off” period after significant price movements. While this sideways trading might appear uneventful, it often lays the groundwork for major price shifts ahead.
Investors are advised to stay patient and monitor key levels closely. A breakout above $2.51 could trigger a strong rally. Additionally, broader market trends, such as Bitcoin’s performance, could play a role in shaping XRP’s next major move.
Disclaimer: The content provided here is for educational purposes only and is intended to raise awareness about cryptocurrency and blockchain technology. It should not be considered as financial or investment advice. Before investing in any cryptocurrency or token, we strongly encourage you to conduct thorough research, understand the associated risks, and make informed decisions (DYOR – Do Your Own Research). For detailed guidance, consult a qualified financial advisor.
By
