Ripple (XRP) Price Prediction: Long-Awaited Hinman Docs Didn't Make XRP Skyrocket, But This Might

In this Ripple (XRP) price prediction, we explore the impact of the long-awaited Hinman documents on XRP’s price movement. While releasing these documents did not lead to a significant surge in XRP’s value, other factors could drive its price upward.

We delve into these factors and discuss their potential impact on the future trajectory of XRP’s price.

Ripple (XRP) Prices Falter Despite Unsealing of Controversial Documents

Despite the judge’s decision to unseal the contentious documents, Ripple (XRP) prices have failed to sustain their upward momentum and have dropped below the $0.50 level.

Interestingly, XRP initially gained significant traction and experienced a surge of over 7% as traders speculated on a favorable outcome for Ripple Labs in its ongoing legal battle against the US Securities and Exchange Commission (SEC).

#xrp $xrp is pumping before Hinman documents are released today. Headed to $.60 with hast.
Trading those 1000 xrp for $csc wasn’t smart, but I am up 10% so far…so can’t complain too much. Besides, I’m still a top 10%holder of the coin. Happy trading. 😊

— Citizen # 22 🇺🇸 (@Citizen_No_22) June 13, 2023

Although, the upticks in the Ripple (XRP) coin value were short-lived as it dropped below the $0.50 level. However, the latest price drop suggests market sentiment may have shifted, or investors’ expectations were unmet.

Long-Awaited Hinman Documents Didn’t Make XRP Skyrocket, But This Might

On the positive side, the recent surge in XRP prices can be attributed to the release of the long-awaited Hinman documents. These documents, which were unsealed and made available to the public on June 13, provide valuable insights into a notable speech delivered in 2018 by Bill Hinman, the former director of the United States Securities and Exchange Commission’s (SEC) corporation finance division.

Here it is. In black and white. What the SEC believes XRP is. A security.

And Larsen knew. And was TOLD by his legal aid that XRP was a security. He had Fair Notice. But chose not to obey the Law.

Hinman documents are a distraction.

Judge Torres (fake implant Judge) will agree pic.twitter.com/IX9HvbU0xJ

— Crypto Current (CryptoRick) (@CryptoCurrent77) June 14, 2023

Hinman’s 2018 speech stated that Bitcoin (BTC) and Ethereum (ETH) were not considered securities in his view. This development initially sparked optimism among investors and led to a notable increase in XRP prices.

Furthermore, the market sentiment continued to be cautious as investors awaited the US Federal Reserve’s monetary policy decision. This has played a significant role in restraining any significant upward movement in Ripple coin prices.

#IntercamNews
✅ General inflation in the US became more moderate in May; underlying inflation remains high
✅ This Tuesday, the Federal Reserve´s monetary policy meeting kicks off – amidst high uncertainty; a “jump” is expected in tomorrow´s decisionhttps://t.co/HNEJKgrWlG pic.twitter.com/qyOD4IgP7d

— Intercam Banco (@IntercamBanco) June 13, 2023

It should be noted that the global cryptocurrency market cap remained relatively unchanging, hovering around the $1.06 trillion mark, with a slight decline recorded in the past 24 hours.

Impact of Hinman Documents on Ripple (XRP) Prices and Regulatory Landscape

As we discussed earlier, the release of the Hinman documents, which provide insights into the Securities and Exchange Commission’s (SEC) perspective on cryptocurrencies, is expected to impact Ripple (XRP) prices positively.

These documents bolster Ripple’s claims that the SEC has shown inconsistency and unfairness in handling digital assets.

In the meantime, this new evidence further strengthens Ripple’s position, highlighting the argument that William Hinman, a former director at the SEC, delivered a speech that created confusion in the market and hindered understanding of regulatory limits.

Fed GPT the @Ripple $XRP case documents and Hinman e-mails and asked some questions. I then convinced it be a judge that is an expert in securities law.

Here’s how #ChatGPT would rule the #XRP vs #SEC case. pic.twitter.com/Z8u7uIcMee

— treecitywes.eth🛡️ (@TreeCityWes) June 13, 2023

Although the impact of the documents on the ongoing legal dispute between Ripple and the SEC might be indirect, they do play a significant role in shaping Ripple’s public perception. They could potentially influence legislative discussions in Congress.

Hence, releasing these documents was a key factor in enhancing clarity and regulatory certainty for cryptocurrencies.

Consequently, investor sentiment toward Ripple and its native cryptocurrency XRP is expected to improve, possibly resulting in an upward trend in XRP prices.

Impact of Federal Reserve’s Policy Meeting on the US Dollar and Cryptocurrencies

The broad-based US dollar has continued to decline and remains depressed, as it failed to stop its downward trend ahead of the conclusion of the Federal Reserve’s policy meeting.

However, the decline comes after the release of disappointing US inflation data, with the consumer price index showing a 0.1% increase last month.

Therefore, the Federal Reserve is expected to maintain its current interest rates, keeping them unchanged for now.

*S&P 500, NASDAQ END AT 13-MONTH HIGHS AS U.S. STOCKS RALLY AHEAD OF FED DECISION https://t.co/EvRgjssBhE $DIA $SPY $QQQ $IWM $VIX 🇺🇸🇺🇸 pic.twitter.com/DElqOtFQnx

— Investing.com (@Investingcom) June 14, 2023

Thus, the pause in interest rate hikes by the Federal Reserve could reduce the attractiveness of the US dollar as an investment option compared to other assets, including cryptocurrencies.

It is worth mentioning that the lower interest rates can lead investors to seek higher-yielding alternatives, potentially benefiting cryptocurrencies like Bitcoin and Ethereum.