XRP Spikes 8%, Outperforms Bitcoin, Ethereum, After Courtroom Victory For Ripple Enthuses Investors
In a blow to the Securities and Exchange Commission (SEC), a judge has denied the regulator’s recent motion to seal records related to the internal deliberations following a speech by former director, William Hinman.
What Happened: This development has been hailed as a win by Ripple Labs, which is associated with XRP (CRYPTO: XRP).
XRP is up 8% in the last 24 hours, outperforming Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) gains.
Judge Analisa Torres, presiding over the Ripple vs SEC, case on Tuesday emphasized that the Hinman documents are judicial documents, meaning there is a strong presumption of public access and they cannot be sealed.
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Why It Matters: Ripple’s CEO Brad Garlinghouse, welcomed the decision, calling it “another win for transparency!”
The SEC filed the motion in December last year to seal internal emails, text messages, and expert reports related to Hinman’s speech.
Price Action: At the time of writing, XRP was trading at $0.45, according to Benzinga Pro.
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Posted-In: Brad Garlinghouse ripple Securities and Exchange Commission (SEC) XRPCryptocurrency News Markets
