David Schwartz, the chief technical officer at Ripple, the US-based cross-border payment firm, has recently revealed that his feeling for the future of Ripple and the crypto industry at large is turned more positive than it was in at least six years.
Due to the recent outcomes from the court, Ripple and its teeming community of members are becoming more confident in the ongoing XRP lawsuit filed by the United States Securities and Exchange Commission (SEC).
After the contention that lasted for at least 18 months, the SEC finally released William Hinman’s documents that contain his 2018 speech, in which he said Ethereum (ETH) is not a security.
In an announcement a couple of hours ago, Ripple general counsel Stuart Alderoty said, “Over 18 months and 6 court orders later, we finally have the Hinman docs (internal SEC emails and drafts of his infamous 2018 speech). While they remain confidential for now (at the SEC’s insistence), I can say that it was well worth the fight to get them.”
It’s generally believed that the SEC knew that the documents contain evidence that could nullify its claims about XRP before the Judge, which made the release take longer than expected.
Positive Feelings about Ripple’s Prospects
After the announcement, many Ripple and XRP supporters and top executives at the firm, including CEO Brad Garlinghouse, took to Twitter to showcase their excitement.
David Schwartz, the CTO at Ripple, also stated that he’s growing more positive feelings for the future of Ripple and the entire crypto space.
David Schwartz tweeted, “Maybe this is the exhaustion talking, after a week of going to bed at 1AM and getting up at 7, but I feel more positive about Ripple’s prospects, and those for the entire crypto space, now than I have in at least six years.”
Maybe this is the exhaustion talking, after a week of going to bed at 1AM and getting up at 7, but I feel more positive about Ripple's prospects, and those for the entire crypto space, now than I have in at least six years.
— 𝙳𝚊𝚟𝚒𝚍 𝚂𝚌𝚑𝚠𝚊𝚛𝚝𝚣 (@JoelKatz) October 21, 2022
Although the news is positive and big, the price of XRP in the market has not been impacted positively. At the time of filing this report, XRP is trading at $0.4464, with a relatively 2.5% price downtrend in the last 24 hours.
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