The SEC remains headstrong against a ruling by Judge Sarah Netburn to submit requested documents to Ripple (XRP) in its ongoing lawsuit against the cryptocurrency company.
The regulatory watchdog claimed that Magistrate Judge Netburn “did not get the law right.” The Commission claimed that the speech in question reflected Hinman’s personal opinion and not the SEC’s view. The SEC detailed in its filing: “That holding is based on two false dichotomies that Defendants continue to champion: (1) agency communications can only reflect either personal views or agency views; and (2) the DPP and attorney-client privilege protect only deliberations about specific agency decisions and not deliberations that reflect personal views of agency staff.” The US Securities and Exchange Commission further noted:
“Because the Orders contain clear factual errors and are contrary to law, the Court should sustain the SEC’s Objections for the reasons set forth therein.”
Despite the judge ruling that the regulatory agency provide the Hinman documents for the case on two occasions, the SEC remains unwilling and adamant to deliver the necessary documents. Instead, the agency has filed objections to every order to unhand the documents to Ripple.
Commenting on the ongoing saga, attorney John Deaton, Amici’s legal representative, noted that he suspects the SEC’s persistence to grant access to the Hinman documents could mean the regulator would rather settle with the defendants than surrender the documents.
Key Ripple Levels to Watch — August 17
After failing severally in the past few days to re-enter the May consolidation zone, highlighted in purple, Ripple is on a correction pattern. The cryptocurrency currently trades off my long-standing ascending trendline, which is the last support preventing a full-blown bearish descent.
Ripple stands to resume a bullish momentum and retest the consolidation zone if it manages to hold above the critical trendline in the coming days. A bodied candle close below this line would highlight the start of a bearish correction towards $0.3400 – $0.3200.
Meanwhile, my resistance levels are $0.3800, $0.4000, and $0.4200, and my support levels are $0.3600, $0.3500, and $0.3400.
Total Market Capitalization: $1.12 trillion
Ripple Market Capitalization: $18.4 billion
Ripple Dominance: 1.65%
Market Rank: #6
You can purchase Lucky Block here. Buy LBlock
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.