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Ripple's Co-Creator Halts XRP Selling Spree – Bullish Trend?



 Since December 2020, Ripple has not really recovered. Instead, the cryptocurrency that seemed promising from the start began to plummet when the United States Securities and Exchange Commission (SEC) sued it.


The allegation was that the company had raised more than $1.3 billion from the sale of unregistered securities. As a result, the SEC blamed co-founders Christian Larsen and Bradley Garlinghouse.


The court case has been going on for more than a year. But surprisingly, on April 14, Ripple CEO Brad Garlinghouse stated that the case is going very well. Most recently, Ripple co-founder Jed McCaleb stated his intention to stop dumping XRP. 


In the past, McCaleb had already sold most of his 9 billion XRP. McCaleb mentioned that his decision not to continue selling the coin came suddenly. 


Court case between Ripple and SEC continues

Despite all of this, the dispute between the SEC and Ripple is still unresolved. According to a recent report, the presiding judge dismissed the SEC's claims to attorney-client privilege. Instead, Judge Sarah Netburn ordered all documents to be disclosed.


The Securities and Exchange Commission insisted on withholding documents related to William Hinman's speech. However, the judge rejected this and called the procedure hypocritical. The SEC claims that the document is irrelevant to cryptocurrency regulation.


The document they are trying to hide contains a statement by Bill Hinman saying that Ethereum is not a security. These and similar documents will help Ripple in its fight against the SEC. 

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