XRP prices breached US$0.6 for the second time this year after Ripple won its bid to keep its private email correspondence out of the public eye in its ongoing lawsuit with the US Securities and Exchange Commission (SEC).<\/p>\n

The lawsuit, filed against Ripple in December, alleges that Ripple\u00a0raised $1.3 billion<\/a>\u00a0by selling XRP in ongoing unregistered securities offerings. Ripple, a payments company created by XRP creators Chris Larsen and Brad Garlinghouse, functions kind of like the central bank of XRP. If the coin is crashing, Ripple sells some of the 55 million XRP it holds in its treasury.<\/p>\n

On March 31, a New York judge granted Ripple\u2019s motion to temporarily seal four documents and\u00a0ordered<\/a>\u00a0Ripple and the SEC to agree on redactions by April 2. Ripple\u2019s lawyers managed to convince the judge to grant redactions in two\u00a0email exchanges<\/a>.<\/p>\n

The first redaction is an email between Ripple CEO Brad Garlinghouse and an anonymous person about Rippleworks, the company\u2019s non-profit VC arm. The second is between anonymous parties discussing the public perception of\u00a0XRP<\/a>\u00a0and Ripple\u2019s control of it.<\/p>\n

Ripple hasn\u2019t reached an agreement over the other two documents according to Ripple\u2019s counsel, Andrew Ceresney. The SEC doesn\u2019t want Ripple to hide an email exchange that contains co-founder Chris Larsen\u2019s personal financial information, nor one that shared the company\u2019s strategy with private investors.<\/p>\n

Ripple\u2019s lawyers still want them redacted, obviously. \u201cAll four documents are \u2018discovery materials filed with the court in connection with the discovery-related disputes,\u2019 and therefore not judicial documents and not entitled to a presumption of public access,\u201d Ceresney said in a letter to the court.<\/p>\n

The court case hasn\u2019t\u00a0stopped<\/a>\u00a0XRP, Ripple\u2019s cryptocurrency, from rising in value amid the current bull run. At the time of publishing, XRP became the 7th largest cryptocurrency, with a market cap of $29.2 billion. XRP\u2019s price is up around 170% since the start of the year, currently worth $0.636178\u2014higher than before the lawsuit.<\/p>\n

The rising tide lifts all boats.<\/p>\n

This story was originally published in\u00a0Decrypt<\/a>, a Forkast.News syndication partner, and appears here with additional updates by Forkast.News<\/em>.<\/p>\n

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