XRP: Why RIPPLE FORCED SEC to DISCLOSE its NP Policies (Price Plan to $5000)

with the market seeming to be rising again xrp's price action has seen a remarkable turnaround running to hit its significant resistance indicating xrp's high trading volume how far will xrp go by the end of this year will whip a win against the sec after the court's direction to produce sec's internal policies stay tuned to find out welcome xrp army let's grow the xrp lab community by pressing the like button and subscribe the current market cycle has restricted most of the digital currencies to trade according to their qualities the reason bump has introduced new crypto trends enlightening investors and crypto analysts about certain old coins with a higher propensity to grow and survive in any market condition considering ripple's xrp for this video the token has maintained its crucial support levels over 50 cents meaning xrp is on the run to become a significant old coin marking its place among the elites shedding some light on the ripple versus sec case the lawsuit came out of nowhere to ripple in december 2020 since then the fintech company has been struggling to maintain its token and its business venture however it now appears that ripple has been clearly winning over the sec still looking at some recent developments in the lawsuit it has made a pessimistic prediction of ripple's price meaning the price action of the coin might again go back to a consolidation phase in today's video we will thoroughly discuss the lawsuit with particular attention to the motion by ripple requesting the court to direct sec to produce its internal employee policies discussions and email policies regarding old coins after claiming ripple to have engaged in trading xrp as unregistered securities the sec has successfully strangled the fintech company into a legal battle where both the parties now battle over whether xrp is a security the sec has alleged that both the company executives have raised over 1.3 billion dollars through an unregistered ongoing digital asset securities offering a lot is going on with the lawsuit in this regard that xrp holders initially tried to intervene in the matter and were allowed by the judge still the sec filed a motion cancelling out their entry into the case claiming it to add nothing to the lawsuit to prove that xrp is not a security but a blockchain technology same as bitcoin and ethereum the fintech company requested the court to direct sec to produce its internal discussion documents relating to bitcoin ethereum and xrp the court allowed ripple's motions and directed the sec to produce requested documents before the 18th of june however scc filed an extension motion after which the court granted and pushed the fact discovery deadline to 31st august and the expert discovery deadline to 15th october according to jeremy hogan a keen ripple versus sec enthusiast and a lawyer any further delay in the suit would negatively impact ripple he further added the sec has clearly seemed to be elongating the matter that is why xrp's prices are not likely to see any significant rebound even after entering 2022 previously when ripple tried to take in information from the sec regarding its internal communications regarding cryptocurrencies the regulatory body filed a denial motion however the court ordered in favor of the fintech company stating that such information would be crucial to the outcome of the case and also with regard to ripple central defense the fintech company also seeks to find out the sec's internal employee policies relating to the trade of digital assets or virtual currencies defense attorney said the sec's treatment of trading in digital assets including any distinctions it draws between xrp and other digital assets is directly relevant to show the sec's own perspective on digital assets which is relevant both to the applications of the howie test and ripple's fair notice defense however the sec refused to reveal the same arguing over the contention that the asked information on employee policy is irrelevant to the present suit however ripple remains strict on its demands contending that the policies could reveal the sec stance on digital assets which would also include any distinctions it draws between xrp and other cryptocurrencies mainly bitcoin and ethereum as stated earlier this discovery would help the court to conclude the company's fair notice defense and its applications of the howie test determining whether ripple and its co-defendants the companies to executives ceo brad garlinghouse and executive chairman chris larson offered and sold xrp as securities on the request of documents sec emailed ripple's defense attorney revealing that the sec has already provided ripple with records received from fintech companies mercury fx bc remains gatehub revolu and transpaygo through its requests for assistance from foreign regulators therefore the judge acceptance of sec's rolling production of responsive documents this regulatory body requested a two-month extension which the court agreed on the lawsuit is currently in the discovery phase with the sec's and ripple battling over the information to be shared with the other side the court has pushed the fast discovery deadline to be completed by august 31st and the expert discovery to be done by 15th october 2021 the previous ripple's request to access the sec's non-public policies concerning its agency employees of buying and selling xrp and other cryptocurrencies was finally granted by the court on 23rd june 2021 john e deaton a lawyer who previously filed a class motion along with 11 000 other xrp holders to intervene in the ripple versus sec lawsuit as a third party defendant revealed a portion of the latest court document in a tweet crypto law tweeted judge netburn orders sec to produce internal policies governing employees trading or purchase or sale of digital assets which the sec has been refusing till now the picture attached reads directly from the order stating the defendant's second request for the sec's internal trading policies is granted the court finds the information to be crucial and important holding the potentiality to be called with respect to the claims against ripple this new victory might be the major reason why we are seeing a good buying force on the token today the price action of xrp has risen over major resistance levels and it looks so good it's been trading with a higher green percentage after quite a long time however as for the case update it does not end here ripple has recently requested to have william hinman testify at a deposition on june 30th william hinman has served as the director of the sec's division of corporation finance and held a crucial position at the sec's operations he has been cited by the fintech company in the litigation because of a speech that he gave in 2018 titled as digital asset transactions when howie met gary this speech in short talked about bitcoin and ethereum not being securities ripple argues that on himman's remarks the sec would permit the present-day sale of virtual currencies given the current market conditions for xrp however presently hitman has been distancing himself from his remarks from the sec and has filed a declaration in support of sec's motion to quash the deposition subpoena he says i began the speech with the following disclaimer my remarks are mine alone not necessarily those of the commission the commissioners or the staff the text of the speech which is publicly available on the commission's website contains a similar disclaimer the securities and exchange commission disclaims responsibility for any private publication or statement of any sec employee or commissioner this speech expresses the author's views and does not necessarily reflect those of the commission the commissioners or other members of staff sec's learned council laden stewart has written to the u.s magistrate judge sarah nedburn requesting to quash ripple's motion calling for a subpoena contending that hinman had no first-hand knowledge of the underlying facts of the litigation interestingly we have another fact opener by james feilan a defense lawyer and a former federal prosecutor in his tweet feilin revealed that the former sec chair jay clayton used william hinman's speech as an example revealing scc's transparency in its treatment of digital assets well we have some highly contradictory facts which rests upon the judge to decide the coin is trading at 71 cents with a green of 10.03 it looks like we can finally see some good buying pool on the token after ripples another win over the sec well we can now be sure that ripple will undoubtedly win the lawsuit but it might take the beginning of 2022 to happen with that being said we believe this is the best time to invest in xrp until it's fully settled matters with the sec kindly note that 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 do you invest in xrp let us know in the comments if you want to continue to know about xrp we've 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 my friend [Music] you

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