Lukewarm Reaction from XRP as Ripple Claims Another ‘Big Win’ Against the US SEC

cryptonews.com:

The price of XRP, the coin associated with the American fintech firm Ripple, rose modestly today after news of what one lawyer called “a very big win for Ripple” in an ongoing court battle against the US Securities and Exchange Commission (SEC).

At 09:40 UTC, XRP stood at USD 0.955, up 1.5% for the past 24 hours and down 12.2% for the past 7 days.

The “big win” referred to is a decision by the court handling the case to deny the SEC a motion to reconsider a deliberative process privilege (DPP) ruling, saying that:

“The SEC seeks to have it both ways.”

If granted, the DPP ruling would have given the SEC the right to withhold documents that Ripple’s lawyers say are central to the case.

Specifically, Ripple wants documents related to a speech held in June 2018 by the SEC director at the time, William Hinman, to be disclosed. In the speech, Hinman said that Ethereum’s native token ETH could not be classed as a security due to the fact that it was appropriately decentralized.

The lawyer who shared the comment on this latest outcome is James K. Filan, a Ripple community defense lawyer who has extensive experience in the SEC cases.

According to Filan, the SEC now has 14 days to file an objection to this decision to the District Judge.

Similarly, John E Deaton, another lawyer, member of the XRP community, and founder of CryptoLaw, said that the decision is “not just a win for Ripple and XRP holders, but for the judicial system.”

“The SEC is now officially in a hurt locker,” Deaton added.

Filan’s comments about Ripple’s “big win” came shortly after he had shared with his 91,000 Twitter followers that the court had granted a motion by the SEC to redact notes of meetings between SEC employees and representatives of other third parties in