Gary

<p>Ripple, the blockchain-based payment protocol, has recently reclaimed a significant advantage in its ongoing legal battle against the U.S. Securities and Exchange Commission (SEC). The resurgence comes as a result of renewed attention on the infamous “Hinman documents,” which have become pivotal in the legal discourse surrounding Ripple’s native cryptocurrency, XRP.&nbsp;</p>
<h2 class="wp-block-heading" id="ripple-s-epic-comeback">Ripple’s epic comeback</h2>
<p>There were no SEC v Ripple lawsuit updates to pique market interest over the weekend. Due to the lack of court activity, investors were left to speculate on the anticipated end of the SEC v Ripple lawsuit. As the two parties near the final stage of the lawsuit, things haven’t gone the SEC’s way.</p>
<p>The SEC dropped the allegations against Ripple co-founder Chris Larsen and CEO Brad Garlinghouse as a result of the Programmatic Sales ruling. Ripple won both aspects of the case. Despite the Ripple wins, XRP has remained below $0.70.</p>
<p>The possibility of the SEC filing an appeal against the Programmatic Sales finding continues to limit the upside. Recent legal movements indicate that the SEC intends to appeal the Programmatic Sales verdict to the courts of appeal. The SEC must wait until the Ripple case is resolved before filing an appeal.</p>
<p>The SEC exhibited little interest in speeding the matter before the judge denied the SEC’s move for interlocutory appeal. An interlocutory appeal would have pushed the case all the way until 2025. Following the court’s decision, the SEC withdrew the charges against Larsen and Garlinghouse and agreed to negotiate a settlement.</p>
<p>The prospect of a minor penalty for XRP sales to US institutional investors remains a tailwind. However, the possibility of the SEC appealing the Programmatic Sales ruling is a hindrance.</p>
<h2 class="wp-block-heading" id="why-are-the-hinman-documents-so-important">Why are the Hinman documents so important?</h2>
<p>Ripple Labs and the SEC are in discovery for the XRP case’s remedies phase until February.</p>
<p>Meanwhile, Gary Gensler recently delivered a speech in which he referenced Joseph P. Kennedy, the first SEC chairman. That sparked the X spat between the Commission and crypto industry members.</p>
<p>In his <a href="https://twitter.com/GaryGensler/status/1725222935529480586" rel="noopener noreferrer nofollow" target="_blank">speech</a>, Gensler used the original SEC chair’s statements as a model for the agency’s ethical behavior as a government regulatory body.</p>
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   <p lang="en" dir="ltr">As Joseph P. Kennedy, the first <a href="https://twitter.com/SECGov?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">@SECGov</a> Chair, once said: "We are not prosecutors of honest business, nor defenders of crookedness. We are partners of honest business &amp; prosecutors of dishonesty. We shall not prejudge, but we shall investigate.” <br><br>Check out my recent remarks: <a href="https://t.co/QM2zqj8PQs" rel="noopener noreferrer nofollow" target="_blank">pic.twitter.com/QM2zqj8PQs</a></p>— Gary Gensler (@GaryGensler) <a href="https://twitter.com/GaryGensler/status/1725222935529480586?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">November 16, 2023</a>
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<p>In response, XRP’s legal leader, Stuart Alderoty, went after Gensler’s SEC. The Ripple Labs lawyer had an extensive list of counterexamples to Gensler’s speech:</p>
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 <p>The SEC is losing in court; being criticized by Judges for shady behavior; being rebuked by the Gov’t’s internal auditor; hiding info about meetings with a felon; becoming irrelevant on the international stage. Gensler – admitting no fault – has become the insulate Col. Jessep.</p> <cite> Stuart Alderoty,</cite>
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<p>Alderoty, however, did not stop there. He also mentioned the Hinman documents, which could continue to aggravate the SEC as it pursues Ripple and a number of crypto exchanges and custodians. Alderoty recounted how the SEC had fallen foul of federal auditors and judges:</p>
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   <p lang="en" dir="ltr">Fact check Gensler’s recent remarks. Ripple was sued, but never charged with “dishonesty.” The failed case against it was prejudged, beginning with the ethically compromised Bill Hinman. Gensler has prejudged crypto and has filed suit against others w/o investigation. <a href="https://t.co/Th9I8Or4QC" rel="noopener noreferrer nofollow" target="_blank">https://t.co/Th9I8Or4QC</a></p>— Stuart Alderoty (@s_alderoty) <a href="https://twitter.com/s_alderoty/status/1725305617290527036?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">November 17, 2023</a>
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<h2 class="wp-block-heading" id="xrp-s-price-action">XRP’s price action</h2>
<p>The SEC v. Ripple case will continue to be a focus point for XRP investors. XRP currently has a live price of $ 0.624536 per (XRP / USD) and a market size of $ 33.55B.&nbsp; With a circulating supply of 53.72B, XRP has gained 2.71% in the last 24 hours.</p>
<p>According to Santiment on-chain data, there has been a substantial spike in Large Transactions and Whale Holdings.&nbsp; As of November 18, the whales’ holdings had grown significantly to 16.8 billion XRP. This means they took advantage of the lowering pricing to buy 20 million XRP between November 6 and November 18.&nbsp;</p>
<p>This purchasing <a href="https://www.cryptopolitan.com/btcs-javier-milei-wins-argentina-election/" rel="noopener noreferrer nofollow">frenzy</a> among the major players may prompt retail investors to halt their sell-off and take long positions&nbsp;</p>

Ripple regains an upper hand in the SEC lawsuit – Back to Hinman documents!!

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