While the crypto market crashed in the past week, XRP managed to gain more than 7% on news that the lawsuit should end in favor of Ripple company. Can XRP reach $2 once the lawsuit is officially won? Let’s analyze in this XRP price prediction article.
Ripple Lawsuit with the SEC: What’s it about?
The Ripple lawsuit with the U.S. Securities and Exchange Commission (SEC) has garnered significant attention in the crypto community. This sub-title delves into the reasons behind the lawsuit, explaining the SEC’s concerns and how Ripple’s alleged sale of unregistered securities led to legal action. Furthermore, it discusses the potential negative impacts Ripple may face if the company loses the lawsuit, including the possibility of hefty financial penalties.
XRP Price Analysis: Will XRP breach $0.50 soon?
As of now, XRP prices are consolidating around the $0.45 mark. This section focuses on the significance of price consolidation and how it anticipates a rebound in the overall crypto market, pushing XRP towards the $0.50 price mark. Moreover, it highlights the importance of the $0.48 resistance level, emphasizing the potential for further price gains once this level is surpassed.
Will Ripple win the SEC Lawsuit?
In addition to technical analysis, this section provides insight into the positive fundamental progress of XRP. It discusses Ripple and the SEC’s efforts to finalize the case through summary judgment motions. The article notes that these motions have a deadline of June 13, which could mean that the case may finally come to a close soon after. Many legal experts believe that Ripple has a good chance of winning, especially given recent events such as the rejection of the SEC’s request to keep the Hinman emails private.
XRP Price Prediction: Can XRP reach 2$?
Accordingly, the XRP and broader cryptocurrency community are optimistic that this development indicates a favorable outcome for Ripple, allowing the company to continue its operations without major disruptions. If this proves to be the case, it is anticipated that XRP could experience a rapid surge, potentially reaching $1 within a short span of weeks or even days. Furthermore, if the overall crypto market undergoes a recovery, XRP could ascend to the $2 or $3 price range.
It is worth noting that XRP’s previous all-time high of $3.40 occurred in January 2018, causing the cryptocurrency to miss out on the bullish market trends of 2021. Consequently, the next bull market, potentially coinciding with the Bitcoin halving in 2024, holds the potential for XRP to achieve even higher price levels.
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Source: https://cryptoticker.io/en/xrp-price-prediction-can-xrp-reach-2-once-the-lawsuit-is-officially-won/