XRP, 8% drop ── Losing the rise in the Hinman document | CoinDesk JAPAN | Coin Desk Japan

XRP fell about 8% in 24 hours on the 14th, the biggest drop among major crypto assets.

XRP fell to a monthly low of 46.18 cents, according to CoinDesk Indices. On the 13th of the previous day, it rose to around 56 cents, and in the trial between the US Securities and Exchange Commission (SEC) and Ripple Labs, the “Hinman document” that Ripple Labs had been waiting for was released. went in the company’s favour, raising hopes that XRP would rise.

Not just XRP, Bitcoin (BTC) and Ethereum (ETH) also lost key price levels this afternoon after the US Federal Reserve (Fed) announced it would not raise interest rates.

The Fed’s first rate hike in 14 months was seen by most traders as a bullish factor for crypto-asset prices, but Bitcoin fell below $25,000 and Ethereum fell below $1,700, hitting three-month lows. became.

Earlier this week, XRP rose after former SEC corporate finance director William Hinman’s emails were released as court documents. Optimistic traders stressed that Hinman’s speech in 2018 was flawed in the SEC’s logic of viewing XRP as a security, betting that the trial would end in Ripple Labs’ favor.

“Right now, we are seeing a very large speculative scenario surrounding Ripple, which could lead to a significant increase in the XRP price over the next three to four months, to between $10 and $30,” Crypto said. Asset hedge fund manager Thomas Kralow wrote in a note earlier this week.

｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
| Image: XRP Price Trends (CoinDesk)
｜Original: XRP Tumbles 8%, Erasing Price Gains from ‘Hinman Emails’ in Ripple Lawsuit