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XRP Price Yet to React to "Biggest Event" in Ripple Lawsuit in Past Year

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Fri, 21/10/2022 - 10:19
XRP Price Yet to React to "Biggest Event" in Ripple Lawsuit in Past Year
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The XRP price is yet to react to what crypto spectators term the "biggest event" in the ongoing Ripple lawsuit over the last 18 months. In a major victory for Ripple, the U.S. Securities and Exchange Commission (SEC) has finally complied with the court order to turn over the Hinman documents.

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Ripple's general counsel, Stuart Alderoty, disclosed that after over 18 months and six court orders later, Ripple finally has the Hinman documents, including internal SEC emails and drafts of his infamous 2018 speech. These documents, however, remain sealed from the public.

In September, the XRP community cheered when Judge Torres overruled the SEC's objections and ordered it to turn over the Hinman emails. XRP gained 20% within hours of the news as optimism rose. The XRP price, yet unturned at this recent major victory, remains "surprising" to many.

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At the time of publication, XRP was changing hands at $0.44, down 4.40% in the last 24 hours and 11.77% in the past week. The optimism in the XRP community, however, remains, as seen in the positive reactions to the news across the board.

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Founder of Gokshtein Media, David Gokshtein wrote, "If I was thinking about buying an entire Bitcoin today, I've switched up and am looking at maybe a bag of XRP seeing the news."

Reactions trail release of Hinman document

Ripple General Counsel Stuart Alderoty believes "it was well worth the fight" to get the Hinman documents. He added, "I've always felt good about our legal arguments, and I feel even better now. I always felt bad about the SEC's tactics, and I feel even worse about them now."

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Ripple CTO David Schwartz, says he has never felt more positive about Ripple's prospects and that of the entire crypto space than he has in the last six years.

Ripple CEO Brad Garlinghouse tweeted, "The SEC wants you to think that it cares about disclosure, transparency and clarity. Don't believe them. When the truth eventually comes out, the shamefulness of their behavior here will shock you."

Interestingly, the legal milestone coincides with Ripple's tenth anniversary celebration, making it quite significant.

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