The so-called Hinman documents, a key element in the legal battle between the US Securities and Exchange Commission (SEC) and payment giant Ripple, will be released on Tuesday. The content of these documents could tip the scales in the payment giant’s favor as the case draws to a close, Ripple CEO Brad Garlinghouse said on Twitter.
The outcome of the case has a direct impact on XRP price and could have implications for the overall cryptocurrency community, so the altcoin’s holders are closely following the updates about the legal battle.
XRP price rallies ahead of Hinman document release
XRP price yielded 5.9% gains in the past 24 hours on Binance, based on data from TradingView. XRP holders are anticipating volatility in the altcoin in response to the development in the SEC vs. Ripple case.
Hinman documents refer to internal communication within the SEC regarding a 2018 speech given by Former Director of the Corporation Finance division, William Hinman. The contents of these documents elaborate on the SEC’s stance on cryptocurrencies like Ethereum.
Ripple CEO Brad Garlinghouse said that the contents of Hinman documents are likely to sway the SEC vs. Ripple case in the payment remittance firm’s favor. In a June 13 tweet, Garlinghouse informed the crypto community that the unsealed Hinman documents are “well worth the wait”.
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