Ripple (XRP) Token Rises 21% Ahead of SEC Case Update

Ripple (XRP) prices reflected the larger recovering crypto market ahead of the SEC case update.

The token increased 21 percent before the organization reacted to the SEC's latest attempt to halt the release of an internal memo crucial to the case.

Ripple will contest the prohibited documents.

The XRP token has fallen more than 25 percent in the past seven days as the overall cryptocurrency market declines.

In a historic dump, John Deaton, the lawyer in the case, compared the attitudes of LUNA and UST holders. He said that the value of XRP plummeted when the SEC indicted Ripple and its officials. This led to massive liquidations and people losing their life savings to the disaster. Investors laughed at themselves for investing in a shit coin.

Meanwhile, the Ripple defendants are expected to respond to the SEC's brief on the Hinman filing on May 13. In a move, the Commission claims that documents related to Hinman's infamous statement are protected by attorney-client privilege. The SEC will respond to the Ripple defendants' responses by May 18.

Will Hinman's speech be released this time?

The SEC says the prior year's briefing and oral argument was an exercise. It also included the court's intellectual decision and petition for review.

Previously, Ripple had objected to the Commission's request for rebuttal briefing on the subject. It further stated that this is the sixth time the SEC has objected to any action being taken. The XEC has been very cautious in releasing internal memos regarding the address. In the past nine months, the court has twice denied the Commission's Deliberate Process Privilege (DPP) challenge.