Cryptocurrency token XRP grew by 12% per day

The cryptocurrency XRP, owned by Ripple, has risen in price by 12%, thanks to another important victory of Ripple Labs in court against the US Securities and Exchange Commission (SEC).

At the time of writing, XRP is trading at $ 0.49. Today it became known that Judge Analisa Torres ordered the SEC to release the so-called Hinman documents. William Hinman is a former director of the SEC’s Division of Corporation Finance, and the Hinman documents refer to one of his speeches during which the regulator stated that Ethereum is not a security. According to Ripple Labs, Hinman’s documents are an important argument in the court case — if ETH is not a security, then XPR cannot be considered one either.

Ripple going to go full send mode $XRP pic.twitter.com/276BsCVlSf

— Johnny (@CryptoGodJohn) September 29, 2022

As for the XRP rate, it directly depends on the confrontation between Ripple and the SEC. Thus, on September 23, when Ripple Labs filed a motion to dismiss the court case, the token grew by 40%. Members of the cryptocurrency community hope that Ripple representatives will succeed in obtaining a positive court decision. In any case, the outcome of the litigation between the blockchain and the US regulator will have significant consequences for the entire cryptocurrency industry.

It is worth noting that the 40% growth is not the only maximum possible one: according to the Simpsons' forecasts, the XRP value will increase 1200 times. In one of the episodes, Bart Simpson wrote the following phrase on the blackboard: «XRP to hit $ 589 by EDY». Some Simpsons fans interpret this as the possible value of the XRP token, as the series' writers have repeatedly predicted historical events.