The legal battle between the United States Securities and Exchange Commission (SEC) and Ripple Labs rages on as the community awaits the summary judgment.
While the wait continues, a recent ruling led Pro-XRP Attorney Jeremy Hogan to applaud Judge Analisa Torres as ‘The People’s Judge’.
Judge Torres ruled on public access to the Hinman Speech document in the lawsuit between the SEC and Ripple. After the ruling, the Pro-XRP lawyer Jeremy Hogan took to Twitter to praise her.
Ripple Attorney Hogan Applauds Judge Torres
Judge Torres denied the SEC’s motion to seal Hinman’s Speech documents. The judge noted that they are vital judicial documents portraying a strong presumption of public access.
In her ruling, Judge Torres stated, “The Hinman Speech Documents would reasonably tend to influence ruling on a motion.”
Through an attachment in his tweet, Attorney Hogan noted that the Hinman Speech document could impact the court’s final ruling in the lawsuit.
Hogan thinks that Judge Torres’ ruling aligns with the interest of the XRP holders, Ripple Labs, and the entire crypto space. Also, the move could impact the US crypto regulatory clarity.
Before now, the XRP community called for more clarity and access to details about the SEC’s accusation against Ripple. Notably, the 2018 controversial speech by the former SEC’s director Hinman has been a significant factor in the SEC vs. Ripple lawsuit.
In a speech in 2018, Hinman stated that Bitcoin and Ethereum are not securities. However, he did not comment on XRP though the token was the third-largest crypto asset during the period.
As such, the Silicon Valley-based blockchain firm Ripple has requested the Hinman Speech document in court, but the SEC denied it. Ripple wanted to discover the opinion attached to XRP regarding Hinman’s controversial speech.
Though the Commission surrendered the document, it still filed a motion to keep the documents sealed. But the recent ruling will unseal the document as Torres has now approved public access.
XRP Price Action
The excitement is increasing with the XRP community following the recent SEC vs. Ripple case ruling. This achievement has shown a notable influence on the price action of XRP within the past 24 hours.
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At the time of writing, XRP is trading at $0.4457, showing a surge of 0.72% over the past 24 hours. According to CoinMarketCap, the XRP market cap currently sits at $23.10 billion as the token ranks the 6th top crypto asset.
Featured image from Pixabay and chart from Tradingview.com