Ripple vs. SEC: Court Set to Release Decision on Hinman’s Emails Findings

Updated:

Attorney Jeremy Hogan, a Ripple (XRP) proponent, recently revealed that the court’s ruling on the emails of former SEC official William Hinman could arrive soon. Hogan explained that the upcoming motion to exclude expert witnesses from the case could hasten the court’s decision on Hinman.

Hogan tweeted yesterday:

“I think Judge Netburn will rule on the Hinman emails this week mainly because motions to strike expert witnesses are due next week Tuesday.

Speaking of which, looking forward to Ripple’s motion to strike the expert report of Mr. Doody. It should be a Doozy!”

Recent reports from Fox reporter Eleanor Terrett suggest that the court’s ruling on Hinman’s emails and the Commission’s motion to seal opposition to amici requests were likely.

The US Securities and Exchange Commission has made several attempts over the months to stall and frustrate the release of emails containing drafts of Hinman’s speech, which could swing in favor of Ripple. After the court struck out the SEC’s Deliberate Process Privilege (DPP), the Commission switched to claiming the said documents were protected by the attorney-client privilege.

That said, the court asked the SEC to provide ten documents to assist in its decision-making process, with Judge Sarah Netburn hosting a conference to assess the documents released in June.

Key Ripple Levels to Watch — July 6

Ripple continues above its recently acquired ascending trendline and could maintain this position in the coming weeks. With the relative absence of trading volume in the market, XRP lacks any bullish coordination to push above the $0.3500 mark.

XRPUSD – 4-Hour Chart on Bitfinex. Source: TradingView.

That said, I foresee the ongoing sideways pattern persistence into the middle of July before any meaningful bullish reversal gets recorded.

Meanwhile, my resistance levels are $0.3400, $0.3500, and $0.3600, and my support levels are $0.3200, $0.3000, and $0.2800.

Total Market Capitalization: $904.1 billion

Ripple Market Capitalization: $15.6 billion

Ripple Dominance: 1.72%

Market Rank: #7

 

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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.