Ripple vs. SEC: Both Parties Reach Understanding on Hinman’s Testimony


Ripple Labs and the United States Securities and Exchange Commission (SEC) have reportedly come to an “understanding” on the Hinman deposition. Both parties have agreed to postpone the former SEC executive’s testimony after achieving “substantial progress in narrowing and resolving the privilege issues.”

Previously, the court handling the Ripple vs. SEC case gave both parties till July 19 to reach an “understanding.” The deposition will now hold on July 27.

According to a joint letter on the matter submitted to US Magistrate Judge Sarah Netburn, the parties have seen “significant progress” deliberating the claims and objectives of privilege that could apply to the former executive’s testimony.

The court’s intervention will have the final take after the testimony gets put forward and what comes out of it. That said, Ripple and the regulatory agency have agreed to “reserve” their respective rights to request further guidance from the court ahead of the deposition.

Nonetheless, this is only the first round of discussions, and the real thing comes after Hinman’s testimony. While many XRP enthusiasts continue to back Ripple and the defendants, many are very skeptical about the intentions of the SEC.

Key Ripple Levels to Watch — July 21

Ripple (XRP) continues to struggle to make meaningful bullish moves as bears dominate the market. The seventh-largest cryptocurrency recently suffered a crushing blow below the $0.5500 support following a broader crypto market crash.

XRPUSD – 4-Hour Chart

At press time, XRP is battling the $0.5500 level, which, if broken, could help it reclaim the $0.6000 psychological level. However, it is unlikely that bears have had enough with the market, and more drops are likely in the coming days.

Meanwhile, our resistance levels are $0.6000, $0.6200, and $0.6500, and our support levels are $0.5500, $0.5200, and $0.5000.

Total Market Capitalization: $1.26 trillion

Ripple Market Capitalization: $25.3 billion

Ripple Dominance: 2%

Market Rank: #7


You can purchase crypto coins here: Buy Tokens

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit

Highly volatile unregulated investment products. No EU investor protection.

  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.