RIPPLE VICTORY at Hearing, What is Hinman Hiding The SEC Is Desperate - YouTube

Ripple, XRP's parent company, has bagged yet another court victory in its protracted struggle

with U.S financial regulators, giving the coin some price stability. XRP has had a year-over-year

return of over 211 percent, but the actual question is will they win or will the SEC

overturn the whole case? What happened at the hearing and what is it that Hinman is

hiding? Stay tuned to find out all the details of the case!

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Make sure to keep watching because we have an interesting fact about XRP that you might

not be aware of!

At the hearing, the legal question was whether the judge would allow former SEC director

Hinman to be deposed by ripple. The relevant statute states that high-ranking officials

may not be deposed unless there is a compelling reason to do so. As you may recall, former

SEC Director Hinman gave a speech in 2018 in which he stated that ether was not a security

in his opinion, and we learned that he also spoke with the Ethereum Foundation about a

week before the speech, as well as some crypto exchanges about his views on whether ether

was security. Now, why is this significant?

Because Ripple has asserted the mere notice defense, which asks whether Ripple had reasonable

notice that its xrp token could be classified as a security, the fact that we heard from

a new SEC attorney, Ms. Stewart, was the first thing that caught our attention as we listened

to the hearing. We thought she started off strong, but what was more interesting was

that we had not heard from attorney Tenreiro in a long time. This could indicate that the

principal counsel for the SEC has changed. We'll have to wait and see how things play

out over the next few weeks. In any event, we believe Ms. Stewart did an excellent job

laying out the SEC position.

You can have high-ranking secret service officials deposed in every case the SEC is engaged in;

otherwise, the officials' retirement years would be spent being deposed day after day.

Ms. Stewart was excellent until the judge asked her first question, which was a curveball

question that sprang out of nowhere and was actually the subject of the hearing. And the

question was this: in his affidavit supporting the motion, Mr. Hinman stated that the speech

was simply his personal opinions. "The speech was intended to represent my own personal

beliefs," Hinman writes in paragraph 13 of his declaration.

So the judge wondered how a high-level official protective privilege could apply to statements

that he expressed solely in his own view. That inquiry made us sit up and take notice;

we hadn't expected it at all, and the SEC attorney hadn't either. Now that this problem

had been properly documented in the paper, we reasoned that the court might want to hear

more from Ripple about what they planned to learn from Hinman that wasn't already in his

address. We believed she required more from ripple. That, however, was not the case. The

point is that Judge Netburn is well aware that her decisions set a precedent and will

be cited and relied upon in future instances.

She's also conscious, as any competent judge should be, that she needs to keep a good record

of why she made certain decisions. not only for that reason but also in case a judgment

is overturned. There was case authority on the subject of personal vs. official views.

Therefore the SEC made a significant mistake. And the secret service had omitted to include

it in their briefings. Some judges now won't even allow you to discuss a case if it hasn't

been filed. Nonetheless, Judge Netburn's letter argued. We looked at a case called the nachios

case, and it's basically a case that was a little useful for the SEC but a lot damaging.

Because, even though the official prevailed on the privilege issue in the nachios case,

the court allowed him to be deposed first. The parties then returned to court to debate

the privileged arguments, which is essentially what Rebel wants to do in this case, after

the questions were answered and the objections were expressed. We call this a judge's hearing

because we believe the judge already knew what she was going to do. However, she wanted

to make a record for both cases of the president and appellate purposes.

She intended to make it clear that the speech was extraordinary, that Hinman stated his

personal opinion that ether was not a security and that the extraordinary nature of the statement

was the reason she would allow the deposition to proceed. So, when it became clear that

the judge would allow the deposition to proceed, She asked the parties if they were moving

forward on Monday because it had already been scheduled for the 19th, and Ripple responded

yes, and the SEC's attorney said she wasn't sure they needed time to evaluate. Now that

there was a scheduled deposition, the judge indicated she would allow it to proceed.

But the SEC will evaluate, which can only imply one thing: absent an agreement between

the parties, the SEC plans to appeal the judgment permitting the deposition to proceed, or at

the very least to contemplate doing so, and you have no clue how rare an interlocutory

appeal is. First, meeting the criteria is nearly impossible, allowing the deposition

to be manifestly incorrect. The district court is the judge who would make that manifestly

erroneous judgment. Judge Torres, who was working on this matter with Judge Netburn

and likely knew what Judge Netberg was going to do with this issue.

So, while we are not conspiracy theorists by nature, the fact that the SEC is considering

appealing this ruling implies to us that the SEC is trying to avoid proceeding. We're not

sure why they're so desperate. However, there is something wrong with it. Here's the catch:

while ripple is unlikely to know exactly what the SEC is concealing, it's possible that

they do. But after today, we don't believe so, and the bad news is that Judge Netburn

will be quite limited in what Ripple may inquire about. She was exceptionally explicit near

the end of the hearing when we thought she was getting a little irritated with everyone

that the speech is what makes the case unique.

Perhaps the events that led up to the speech we're arguing about is that there's something

here that has to be excavated, and the question is whether or not ripple will be able to do

so. We don't know the solution right now. But we do know that this war is far from finished

and that this subject will be brought before Judge Netburn again. Everyone now knows there's

too much writing on it, we assure it.

Let's take a look at the chart and see what the price of XRP is doing on July 16, shall

we?

XRP had been consolidating above $0.650 until July 7, but the drop on July 8 scattered the

support, and the level became resistance for the international settlements coin. The $0.650

level's strength can be ascribed to a low of $0.652 on May 23 and a sequence of highs

dating back to early 2021 and December 2020. The failure of XRP pricing to recoup $0.650

recently indicates that the trading range that has dictated price behavior since the

end of June is being expanded. On the upside, the 200-day SMA is at $0.747, and the 78.6

percent retracement of the 2021 surge is at $0.555.

The steep contraction of the Ripple 14-day Average True Range (ATR) back to the April

levels that are preceding the unrelenting climb to $1.96 is a bullish event stemming

from the tight XRP price action. ATR readings at present levels, in fact, have frequently

foreshadowed price thrusts of various degrees. Of course, the drop in volatility could last

for weeks, but it should at the very least lead Ripple investors to recognize the potential

in recent price behavior. If there is no fluctuation, the price of XRP will remain stuck between

$0.747 and $0.555. As a result, it is recommended that speculators delay making risky investment

decisions until confirmation is obtained. Finally, on the daily chart, Ripple is approaching

a bearish Death Cross formation as the 50-day SMA approaches the 200-day SMA, putting more

downward pressure on the XRP price.

It is now time to take a look at the fact of the day;

The idea that all cryptocurrencies are created to be payment methods is a prevalent misperception

among newcomers to the cryptocurrency realm. If this is the case, it will be difficult

to argue that we require more than bitcoin and probably a few more cryptocurrencies.

Many cryptocurrencies, including Ripple, were never intended to be used as payment currencies.

To put it another way, your favorite merchant is unlikely to take XRP tokens anytime soon,

and Ripple Labs is happy with it.

Ripple, on the other hand, is a cryptocurrency developed as a payment transfer method, which

means it's meant to transport money from point A to point B faster than conventional methods

like wire transfers. How does it plan to accomplish this? Because it is both faster and less expensive

than the alternatives.

Do you think XRP will win the lawsuit?

Kindly note that prices of cryptocurrencies frequently change, so by the time you watch

this video, it might have changed to a whole new value. The information provided in this

video does not constitute investment advice, financial advice, trading advice, or any other

sort of advice, and you should not treat any of the content as such. The content in this

video is for educational purposes only and hence should not be considered as financial

advice. Do conduct your own due diligence and consult your financial advisor before

making any investment decisions.

If you want to continue to know about XRP, we have got 2 more videos waiting for you

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you so much for watching, see you in the next video my friend.