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The legal battle between the US Securities and Exchange Commission (SEC) and Ripple Labs continues while the community awaits a summary judgment.
While the wait continues, a recent decision prompted Pro-XRP attorney Jeremy Hogan to hail Judge Analisa Torres as “the people’s judge.”
Judge Torres ruled public access to the Hinman Speech document in a lawsuit between the SEC and Ripple. Following the decision, Pro-XRP attorney Jeremy Hogan praised her on Twitter.
Ripple Lawyer Hogan Applauds Judge Torres
Judge Torres denied the U.S. Securities and Exchange Commission’s motion to close documents containing Hinman’s speech. The judge noted that these are vital court documents demonstrating a strong presumption of public access.
In her ruling, Judge Torres stated, “Hinman’s speech documents have a reasonable tendency to influence the decision on the motion.”
Through an attachment in his tweet, Attorney Hogan noted that a document of Hinman’s speech could influence the court’s final decision on the lawsuit.
Hogan believes Judge Torres’ decision is in the best interests of XRP holders, Ripple Labs, and the entire cryptocurrency space. In addition, this move could affect the clarity of cryptocurrency regulation in the US.
The XRP community has previously called for more clarity and access to the details of the SEC allegation against Ripple. Notably, former SEC Director Hinman’s controversial 2018 speech was a major factor in the SEC’s lawsuit against Ripple.
In a speech in 2018, Hinman stated that Bitcoin and Ethereum are not securities. However, he did not comment on XRP even though the token was the third largest cryptocurrency asset during that period.
Thus, the Silicon Valley-based blockchain company Ripple asked the court for a document on Hinman’s speech, but the SEC denied it. Ripple wanted XRP’s opinion on Hinman’s controversial speech.
Although the Commission handed over the document, it still filed a motion to keep the documents confidential. But a recent decision prints the document as Torres has now allowed public access.
XRP price action
The excitement in the XRP community is growing after the recent decision in the SEC case against Ripple. This achievement has had a noticeable impact on XRP price behavior over the past 24 hours.
Related Reading: Bitcoin Returns $27,000, Here Are Factors Fueling Recovery
XRP soars on the l XRPUSDT chart on Tradingview.com
At the time of writing, XRP is trading at $0.4457, up 0.72% over the past 24 hours. According to CoinMarketCap, XRP currently has a market capitalization of $23.10 billion as the token is ranked 6th among crypto assets.
Featured image from Pixabay and chart from Tradingview.com
