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

Oct 25,2022
XRP Price Yet to React to

The XRP price did not signal the "big deal" in the Ripple dispute that was under way in the past 18 months, as pointed out by the data encryption audience. As a major victory for Ripple, the Foreign Stock Exchange Association (SEC) finally followed the court order to transmit Hinman documents.

Stuart Alderoty, Ripple's general counsel, revealed that through more than 18 months and six court orders, Ripple finally got Hinman's documents, including the SEC's internal email address and his notorious speech in 2018. However, such documents remain confidential to the public.

In September, when the chief judge of Shevchenko rejected the negative opinion of the SEC and ordered it to take out the Hinman e-mail, XRP Community cheered. XRP rose by 20% within a few hours after the information was released, and the cheerful attitude increased. Although XRP's price has not reversed in recent major victories, it is still "surprising" to many people.

When it was released, XRP changed hands at $0.44, down 4.40% in the previous 24 hours and 11.77% last week. However, XRP Street still has an open mind, which can be seen from the good reflection of this information in many aspects.

David Gokshtein, founder of Gokshtein Media, wrote: "If I want to buy a whole BTC today, I have changed the topic of discussion and may see a bag of XRP."

Hinman document response tracking release

Stuart Alderoty, Ripple's general counsel, felt that "it was all worth it" to obtain the Hinman document. He added, "I have always felt good about our own legal and regulatory arguments, and now I feel better. I have always felt bad about the thinking of the SEC, and now I feel worse about them."

David Schwartz, Ripple's technical director, said that he had never been more optimistic about Ripple's market prospects and the development prospects of all data encryption industries.

Ripple CEO Brad Garlinghouse wrote on Twitter: "The SEC I hope you think is concerned about publicity, clarity and transparency. Don't trust them. When they finally come out, their personal behavior in this land will also make you feel ashamed."

Interestingly, this milestone of laws and regulations is in line with Ripple's 10th anniversary celebration, so it is extremely important.