Ripple Labs Inc. has moved to protect sensitive documents in its ongoing litigation with the U.S. Securities and Exchange Commission (SEC). Filed on May 13, Ripple's motion seeks to seal documents crucial to the remedies phase, arguing that public disclosure could severely damage its operational and competitive standing.

The motion aims to safeguard comprehensive financial data, including earnings, revenues, and expenses, as well as strategic contractual agreements with third-party business associates. Ripple acknowledged the relevance of its discounts to institutional XRP buyers but argued that the specific financial terms are too sensitive for public disclosure.

Additionally, Ripple's motion seeks to protect the identities of certain non-party financial institutions, customers, and employees, arguing that disclosure could compromise privacy interests and harm business relationships.

Defense lawyer James K. Filan emphasized the importance of confidentiality to prevent competitors from gaining leverage. Ripple’s CFO, Jonathan Bilich, supported this move, highlighting that exposure of such information could result in significant financial losses, operational disruptions, and decreased market confidence.

The SEC has shown conditional acceptance of some of Ripple’s requests, indicating a possibility of partial opposition. This development adds complexity to the already intricate legal battle between Ripple and the SEC.

As of press time, Ripple’s native token, XRP, remains neutral, trading at $0.5060 with a slight gain of 0.20% over the past 24 hours. XRP’s market cap stands at $28 billion, with a trading volume of $824 million.