XRP prices soar after Ripple and the SEC agree to partially redact some of Ripple’s email exchanges
As mentioned by AZCoin News, XRP price has increased by more than 170% this year even though the lawsuit with the SEC is not going well. This proves that XRP is not really affected as seriously as we thought it was. XRP has even surpassed $ 0.6 for the second time this year after Ripple won the bid to keep its private email messages private in the lawsuit.
SEC agrees to redact two documents in Ripple lawsuit as XRP prices surge
In December 2020, the SEC alleged that Ripple had raised $ 1.3 billion by selling XRP in the ongoing unregistered securities services. Ripple acts like the central bank of XRP. If XRP crashes, Ripple will sell some of the 55 million XRP it holds in its treasury.
On March 31, a judge in New York allowed Ripple to temporarily seal four documents and order Ripple and the SEC to agree on the transactions by April 2nd. Get the judge to grant transactions in two email exchanges. The first response was an email between Ripple CEO Brad Garlinghouse and an anonymous person about Rippleworks, the company’s non-profit VC arm. The second is between anonymous parties discussing the public perception of XRP and Ripple’s control over it.
Exhibits 1 and 2 pic.twitter.com/YR6McOSDIn
— James K. Filan (@FilanLaw) April 3, 2021
Ripple has not reached an agreement on the other two documents on the advice of Ripple, Andrew Ceresney. The SEC does not want Ripple to conceal an email exchange containing the personal financial information of its co-founder Chris Larsen, nor a share of the company’s strategy with private investors.
Ripple’s lawyers clearly still want them to cut:
“All four documents are discovery materials filed with the court in connection with the discovery-related disputes, and therefore not judicial documents and not entitled to a presumption of public access.”
The court lawsuit has not stopped XRP, Ripple’s cryptocurrency, from increasing in value during the current uptrend. At the time of publication, XRP had become the 7th largest cryptocurrency, with a market cap of $ 29.2 billion. The price of XRP has risen about 170% since the start of the year, currently worth $ 0.636178 – higher than it was before the lawsuit.
You can see the XRP price here.
- CEO Brad Garlinghouse: Ripple Could Abandon XRP And Replace It With An Alternative If It Loses The Lawsuit
- XRP Price Is Up 170% Since The Start Of The Year Despite The SEC Lawsuit, A Signal That Ripple Can Survive The Case?