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Altcoin XRP became the only digital asset in the top-10 ranking, ending yesterday with an increase of three percent. Investors bought cryptocurrencies based on the results of the next round of Ripple and US SEC litigation.
According to lawyers, the chance of the financial regulator to prove that the issue of XRP violated the securities law is becoming more and more illusory.
This week, legal notes from 2012 with the expertise ordered by Ripple were attached to the case. The company transferred them 8 years ago to the US SEC, specifically to prove the fact that the issue of XRP did not violate the securities act.
Now the financial regulator will have to explain in court why the agency took so long to express disagreement with the transferred legal notes. Additionally, the US SEC will also have to explain the change in part of the initial testimony.
We are talking about the statements of the official William Hinman. Now the former head of corporate finance has stated that XRP is not a security. Earlier, the US SEC claimed about Hinman's personal opinion, until Ripple's lawyers requested drafts of this speech.
The regulator refuses to disclose this internal information to the court, referring to the protection provided by the corporate privacy law. However, this position removes the status of personal opinion from Hinman's speech, indicating that the corporate finance department conducted a study at the time and did not find any signs of a security in the XRP issue.
Rumors about a possible victory and the imminent completion of the Ripple court case helped the cryptocurrency grow by 50% in February. During the downturn of the cryptocurrency market, XRP may become the best asset for hedging losses due to the presence of positive news that will come from court sessions
