do you believe in ripple and its native cryptocurrency xrp the recent developments on the lawsuit are nothing less than a bombshell being dropped this is huge as it will have a direct impact on the verdict of the suit will xrp be able to regain its strength and start trading towards its all-time highs make sure to watch this video till the end to know more about it but first we are giving away 25 xrp coins at the end of the month to one random subscriber to start on their xrp journey all you need to do is to like the video subscribe and comment your thoughts on xrp in the comment section welcome xrp army let's grow the xrp lab community by pressing the like button and subscribe there are a lot of conflicts regarding william hinman's deposition in the missing video in this video william talks about bitcoin and ethereum not being a security this was the same video that ripple asked from hinman during this deposition however it seems that nobody is able to locate the same furthermore ripples council has alleged that the sec has erased some crucial parts from the deposition what we have here is a reaction video from cnbc tweeted on cnbc's official twitter channel on the 15th of june 2018.

Video spoke about ethereum's future price trajectory expressly mentioning sec statement that ethereum was not a security cnbc did not mention hinman's speech or stated the above as hinman's statement rather the speech was taken as a statement from the regulatory body and not from hinman's personal viewpoint this proves certain vital things firstly this video lays down a great weight on ripple's fair notice defense secondly the sec must have already known about hinman's statement representing the sec view since the sec was aware of the market and people's opinion the regulator's body moved to file a suit against ripple claiming xrp is security directly indicated towards the malice intention things have been piling up for the sec in the ripple versus sec lawsuit in an article posted by the daily hotel titled did the sec allow employees to trade xrp ripple files motion to get answers previously the fintech company had filed a motion compelling the united states securities and exchange commission to reveal whether it allowed its employees to trade xrp as per sec policy the employees are required to seek clearance before they trade any security however according to ripple's motion the sec had not adopted such a policy restricting its employees from trading digital assets prior to january 2018.

Furthermore the sec released a policy stating that digital assets could be subject to the existing prohibition against securities transactions but it didn't specify which assets would be classified as securities on ripple's motion compelling scc to produce its internal documents a telephonic call was scheduled to settle the dispute regarding privileges that have been dragging on since april ripple believes that the production of such documents was necessary to prove whether xrp is a security or not however the sec took hold under the argument that its internal documents which include the agency's discussion over the nature of xrp and ethereum were protected by deliberative process privilege even though judge saranet byrne has dismissed the same two times reasoning such documents would be relevant to ripple's fair notice defense the sec again brings up the same argument the defendants previously stated that the papers would reveal the sec inconsistencies in its decision making over time proving that the sec failed to provide fair warning that xrp may be regarded as a security the deposition of william hinman has already given the impression that the sec communications lack regulatory clarity according to jeremy hogan an attorney close to the xrp community two bombshells in that deposition could strengthen the fair notice defense hogan says the transcript of the deposition must not be less than 500 pages however only about 90 pages were attached to the brief after which the attorney dropped two significant bombshells relating to the transcript firstly the former sec commissioner had stated that in his first meetings with the xrp representatives they were trying to figure out xrp's compliance in 2020.

At that time the sec came to know ripple's executives were breaking the law meanwhile the sec started off with their investigation however keep in mind that when asked what they could do to comply his only response according to his testimony was to stop selling xrp hogan says this only aids the sec from when hinman informed the sec in 2020 to when the case was filed it has no effect on fair notice before 2020 secondly with regards to sec employee prohibition policy william hinman was asked by the ripple council if the securities clearance form will not cover digital assets until 2018 to which the former sec official denied therefore until 2018 the sec did not consider digital asset securities for its ethics purposes on the cross you never ask a question to which you don't already have an answer and it speaks well for ripple in terms of its fair notice defense for the years 2013 to 2018 the attorney said coming back to the telephone conversation despite the sec making desperate efforts this third time appears to have irritated judge sarah netburn a bit she therefore is more stunned on getting the documents the telephone call was in simpler words not good for the sec ripple's attorney matt solomon raised his arguments on the basis that the dpp did not protect the sec non-disclosure attorney tonero then claimed that allowing access to internal records relating to the sec discussion of digital assets would be extremely destructive prompting the judge to inquire as to what harm the sec believed it would do as the sec attorney fell into dense legalese an enraged net burn responded by conducting a personal on-camera assessment of the records to see if the dpp argument held up in the face of the documents have profound relevance to the case judge net byrne ended the call the least we know is that the judge will proceed with reviewing the sec internal documents on her rule after which she will decide on whether such records are protected under the deliberative process privilege claim by the sect the said ruling is scheduled to be made after the 28th of september 2021 after this matter was spread out to the public ripple labs ceo brad garlinghouse took the matter to twitter addressing the current view of the matter that had extended from being about xrp securities classification to a bigger case involving major governmental institutions fair notice defense under the us constitution and most importantly the entire cryptocurrency market post brad several other twitter users posted the matter the current situation is hot and things are not looking good for the sec however the burden cannot be entirely given to the sect the court has ordered ripple to hand over the firm's terabytes of slack messages previously the sec had complained about ripple's data error and refusal to produce most documents despite ripple's objection of the same being disproportionate and unreasonable the judge rejected the same the entire matter has gotten tangled up in a situation where the sec is under immense pressure even ripple has to face the same pressure especially when the firm has to produce all of its slack messages however the pressure on the sec side is heavier because the internal documents hold a much higher value and that single discovery can be the deciding factor for the lawsuit the controversies in this matter are indeed substantial as the verdict from this suit will tell us the future of cryptocurrencies especially scc supervision on the market this case holds high public interest and therefore any discovery in the matter must be dealt with carefully xrp which was created to replace the obsolete monetary transfer system is now running to and forth the courtroom to prove its locus standing on its existence however it appears that the masses are in favor of the fintech company from a technical perspective xrp is doing really well something that is unimaginable for a token whose trading has been suspended from several platforms xrp is trading at and 31 cents with a green of 4.50 change in the last 24 hours xrp has successfully bounced off its hurdles at one dollar and nine cents in 1.27 confirming a new uptrend propelled by 36 percent growth to the third hurdle targeted at one dollar and seventy cents given the high buying force on the token xrp is likely to make a run towards its three months highest at one dollar and ninety six cents the trend line of the token appears to be in a positive wedge which is moving upwards perfectly since the developments are already closing up the chances of the lawsuit ending with the year are high at that time we would surely witness xrp crossing its all-time highs at and 31 cents you are advised to keep a careful eye on the token and enter the market at that perfect spot to maximize your returns kindly note that the prices of cryptocurrencies frequently change so by the time you watch this video it might have changed to a whole new value the information provided in this video does not constitute investment advice financial advice trading advice or any other sort of advice and you should not treat any of the content as such the content in this video is for educational purposes only and hence should not be considered as financial advice do conduct your own due diligence and consult your financial advisor before making any investment decisions if you want to continue to know about xrp we have got two more videos waiting for you on the end screen to check out make sure to subscribe and give us a thumbs up thank you so much for watching see you in the next video [Music] you

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