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In the latest twist-and-turn of the SEC vs. Ripple case, the US Securities and Exchange Commission has hit back at Ripple, objecting to the payment giants attempts to redact certain information it deems \u2018sensitive and confidential\u2019.The move comes as Ripple\u2019s lawyers attempt to seal \u201cExhibit O.\u201d However, according to the regulator, the real reason the payment giant is trying to keep the information secret is because it could damage the company’s reputation in the case, and that the facts contained in this exhibit are already public information, so\u00a0the motion is futile.\u00a0<\/p>\n
While the XRP<\/a> community is awaiting a court ruling on whether emails used by William Hinman, Former Director of the Securities and Exchange Commission’s Division of Corporation Finance\u2019s speech can be used in evidence, the SEC has filed a new objection against Ripple \u2013 this time demanding Ripple disclose information it is trying to keep under wraps.\u00a0<\/p>\n The objection is targeted at a motion filed by Ripple\u2019s counsel to keep \u201cExhibit O\u201d sealed. According to Ripple\u2019s lawyers, the said exhibit contains “sensitive and confidential” business information that should not be entered into the court. However, the SEC argues that this information is not sufficient to seal the warrant. There is no genuine support for Ripple\u2019s motion to keep exhibit O sealed as the SEC denies that the contents are confidential.\u00a0<\/p>\n Further, the regulator condemned as a not legally valid justification, Ripple\u2019s motion, arguing that the information contained within the exhibit, \u201cthe testimony of expert SEC witness Patrick Doody\u201d hurts Ripple\u2019s merits of the case.\u00a0<\/p>\n Patrick Doody claims to have known the reason why investors purchased XRP from Ripple. His expert testimony on the subject makes up the content of the exhibit,. Interestingly the SEC itself has redacted statements from his testimony, previously.\u00a0<\/p>\n The SEC targeted the information that would reflect \u201cweaknesses\u201d in the SEC\u2019s case against Ripple. James K Filan, Ripple\u2019s lawyer said the global payment giant did not state an objection to the SEC\u2019s move to seal off exhibits in their entirety, and while the regulator chose to seal the remainder of the exhibits in the case, and their proposed redactions, they failed to satisfy the \u201cstandards in sealing off the documents.\u201d<\/p>\n What\u2019s more, in previous updates on the SEC vs. Ripple case, the regulator has filed a letter to seal a portion of an exhibit to the defendant\u2019s lawyers filings regarding insufficiency of the regulator’s response.\u00a0<\/p>\n This new update in the SEC\u2019s case against Ripple reveals how much the regulator has kept under wraps and how the community will have to wait longer for a ruling on Hinman documents.\u00a0<\/p>\n The SEC vs. Ripple<\/a> case is far from over as the regulator raises its latest objection and calls the defendant\u2019s motives into question. The US SEC\u2019s move has therefore slammed Ripple counsel.<\/p>\n XRP <\/a>price made a comeback above $0.31, heading to the first major resistance level at $0.33. Bob Mason, a leading crypto analyst believes Ripple price<\/a> needs broad crypto market support to break past the resistance, into an extended rally where $0.35 level comes into play, and $0.38 follows closely after.\u00a0<\/p>\nXRP price begins recovery, starts an uptrend<\/h3>\n