On June 13, the price of XRP rose by 7.4% due to traders' optimism regarding Ripple Labs' legal battle with the SEC. The release of information related to former SEC employee William Hinman caused the price to increase faster than the general crypto market. Ripple CEO Brad Garlinghouse believes that the Hinman documents may provide clarity on XRP's legal position.

However, the XRP price gains were short-lived, and holders of XRP should expect increased volatility. Attorney Bill Morgan shared redacted portions of earlier filings regarding the SEC's approach to digital assets, but Ripple's Chief Legal Officer Stuart Alderoty believes that the materials only create more confusion.