XRP was tracked Sunday with SEC v Ripple Uncertainty Testing Buyers
There were no updates from the ongoing SEC v Ripple case to provide guidance. The lack of updates prompted investors to focus on the court’s agenda and court motions this week.
Today, parties must file objections to blanket motions for the seal before January 13, when parties must file Daubert Motions and related documents on a public filing form.
The filings will attract a lot of attention, with uncertainty over the outcome of the SEC v Ripple case returning in recent weeks. However, investors are waiting for two crucial court decisions, which could determine the outcome.
Investors are awaiting a decision on the SEC’s proposal to revise the content of documents related to William Hinman’s letter, while the parties are also awaiting a court decision on response ruling summaries.
As a matter of background, former SEC Director of Corporate Finance William Hinman said that Bitcoin (BTC) and Ethereum (ETH) are not securities. The controversial issue in the letter concerns Hinman’s relationship with Simpson Thacher, who is part of a group promoting Enterprise Ethereum. After leaving the SEC, Hinman returned to Simpson Thacher.
Today, while the broader crypto market will provide guidance, court action will be the main driver. Investors are looking to the Securities and Exchange Commission for a solution, which continues to put the Hinman documents front and center.