Ripple CEO Brad Garlinghouse expressed his excitement on Twitter after the release of the Hinman documents. The documents, which were unsealed on June 12, 2023, detail internal deliberations by Securities and Exchange Commission (SEC) staff regarding the classification of XRP.
In a tweet, Garlinghouse said that the documents were “well worth the wait” and that they “show that XRP is not a security.” He also said that the documents “are a big win for Ripple and the broader crypto community.”
The Hinman documents are significant because they could potentially tip the legal balance in Ripple’s favor. The SEC has argued that XRP is a security, while Ripple has argued that it is a utility token. The Hinman documents could provide evidence that supports Ripple’s argument.
It is still too early to say what impact the Hinman documents will have on the SEC’s case against Ripple. However, Garlinghouse’s reaction to the documents suggests that they could be a major victory for Ripple.
Could the Hinman Documents Drive XRP Price to $3?
The release of the Hinman documents has sparked renewed optimism among XRP holders. Some analysts believe that the documents could drive XRP price to $3 or even higher.
However, it is important to note that the SEC has not yet responded to the release of the documents. It is possible that the SEC will release additional documents that could undermine Ripple’s argument.
Only time will tell what impact the Hinman documents will have on XRP price. However, the release of the documents is a positive development for Ripple and the XRP community.
Here are some of the factors that could affect XRP price in the near future:
- The SEC’s response to the Hinman documents
- The overall performance of the cryptocurrency market
- Regulatory developments
- Adoption by financial institutions and other businesses
- Investors should carefully consider all of these factors before making any investment decisions.