XRP Price Prediction As Ripple Calls for an Investigation Into William Hinman After Documents Were Released – Best Time To Buy XRP?
The XRP price has dropped by 4% in the past 24 hours, dipping to $0.506899 after the long-awaited Hinman emails were released to the public yesterday.
Despite the fall today, XRP remains up by 18% in the past month, as the market increasingly expects a positive conclusion to Ripple's case with the SEC.
And with Ripple using the emails to call for an investigation into the circumstances of the 2018 Hinman speech, their release could help the cryptocurrency firm to secure a victory in the case.
Such a victory would undoubtedly send the price of XRP flying, and in combination with a bull market, it could eventually reach new heights.
While XRP initially rallied to a year-high of $0.558968 in response to the release of the emails, it has since subsided, perhaps because people who bought the coin decided to take some profits.
Still, yesterday's comedown hasn't completely ruined XRP's momentum, with the altcoin's relative strength index (purple) rising back toward 50 today.
This signals a recovery of momentum, while the coin's 30-day moving average (yellow) remains in a mixed position, having risen yesterday but now having begun sliding downwards slightly.
On the other hand, XRP's support level (green) has continued to rise, suggesting that any further dips will be slight.
In fact, it's much more likely that XRP will resume rising again, given how the aforementioned Hinman emails strengthen Ripple's case while weakening the SEC's.
These emails detail the circumstances and internal discussions surrounding a speech by the SEC's William Hinman in 2018, in which Hinman declared that neither Ethereum nor Bitcoin were securities.
Revealingly, the emails disclose how the SEC spoke with Ethereum's Vitalik Buterin prior to the speech, as well as
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