XRP Prices Surge Amidst Ripple vs SEC Lawsuit Developments

2:57 pm, Tue, 13 June 23

Current Bitcoin Data

Market Cap
Volume (24h)


Unexpectedly, XRP prices rose significantly by 8.3% during the last 24 hours, despite nominal advances in the larger cryptocurrency market. This increase is thought to be the result of traders betting on Ripple Labs, the payments business embroiled in a legal dispute with the U.S. Securities and Exchange Commission (SEC), to come out on top. The case has gained new insight as a result of the recent disclosure of papers pertaining to William Hinman, the former director of the SEC’s Division of Corporation Finance.

Hinman’s Remarks

Of particular significance is Hinman’s 2018 speech, where he indicated that Bitcoin (BTC) and Ethereum (ETH) were not considered securities in his view. This statement has drawn attention as it potentially supports Ripple’s argument against the SEC’s classification of XRP as a security. One email from Hinman stated, “We do not need to see a need to regulate Ether, as it is currently offered, as a security.”

Implications for the XRP Market

The revelation of these records, which also included correspondence from the general counsel of the SEC, has encouraged investors in the secondary XRP market. According to the emails, the proposed adjustments to determining whether cryptocurrencies qualify as investment contracts make reference to the Howey Test. According to this standard, purchasing land was only security if it came with a service contract and not the actual property. This breakthrough might have advantageous effects for Ripple Labs and the XRP categorization.


Contrary to the overall success of the crypto market, the current spike in XRP prices can be linked to traders speculating on Ripple Labs’ ongoing legal struggle with the SEC. The publication of papers relating to William Hinman, notably his 2018 speech and corresponding emails, has added fresh complexities to the case. The consequences of these developments on the secondary XRP market and the broader cryptocurrency ecosystem remain to be seen as the court procedures continue.

Unleash the potential of leverage trading! Join Bybit today with our link, complete KYC, and earn up to a $40 bonus on a $100 deposit. Don’t miss out on this exclusive offer; claim your bonus now!

Claim up to $30,030 in Bonus

100x Leverage