There were no updates from the ongoing SEC v Ripple case to provide XRP price support, leaving XRP in the hands of the broader crypto market sentiment. However, recent filings and SEC losses in the SEC v Ripple case remain positive for the price.
Focus will return to the SEC v Ripple case as the main case approaches in court
On October 18 parties must a file All articles related to objections to proposals for summary judgment. Filings must include summaries, rule 56.1, and rebuttal of supporting documents. The parties will submit the material under a temporary seal.
Following the filings, the parties will meet on October 20 to determine requests to remove the opposition memo. The court dates follow this week’s friend’s summaries that sought to show that XRP failed the third part of the Howe test.
As activity in the SEC v. Ripple case gains pace, investors will need to monitor SEC motions for a court appeal overturning the SEC’s objection to the court’s refusal of the SEC’s request to protect William Hinman’s speech documents under attorney-client privilege .
Investors continue to see Hinman’s documents relating to the speech as key to the case. In a famous speech in 2018, Corporate Finance Department William Henman said that Bitcoin (BTC) and Ethereum (ETH) are not securities.