XRP saw a new injection of freshness in its price. XRP was up 1.5 percent at the time of writing, trading over the $0.4 threshold. Even if it wasn’t a large increase, it may aid the cause.
Recently, new documents have been made in the lawsuit between the US regulatory board (SEC) and the San Francisco-based fintech business (Ripple). However, one factor continues to align or follow the same pattern: the Plaintiff’s (US SEC) efforts to postpone the lawsuit.
Per a petition submitted by Ripple and Individual Defendants Chris Larsen and Brad Garlinghouse, the SEC’s request to seal its objection to Mr. Patrick Doody’s expert witness challenge was denied.
This remark came in response to expert SEC witness Patrick Doody’s evidence, which sought to explain why XRP holders bought the token in the first place. Meanwhile, Deaton attempted to represent community members involved in the action, as previously stated.
However, it seems that even the court has had enough. In a June 10 filing, the Court refused the SEC’s application to seal the request as mentioned above. In a June 10 tweet, renowned attorney James Filan highlighted this submission.
The SEC must also submit a letter explaining its proposed redactions and stating which exhibits it wants to seal by June 14, 2022. In essence, the Court agreed with Ripple, stating that the SEC attempted to seal more than required.
This might be one of the main reasons for investors’ increasing interest in XRP.
Furthermore, Ripple Labs submitted a rebuttal to the SEC’s flaws in its replies to the Ripple Defendants’ Fourth Set of RFAs. Finally, the defendant attempted to get Judge Netburn to investigate OIEA and FinHub’s inquiries concerning XRP. As a result, Plaintiff is under duress.
Following this development, some XRP supporters voiced their delight on social media. Another well-known lawyer, Jeremy Hogan, praised the judge in a tweet: