The legal battle between Ripple and the US Securities and Exchange Commission (SEC) may not be completely over. Legal experts predict the company’s next potential moves, while analysts make bullish predictions for XRP.
Latest Developments in Ripple vs. SEC Case
Earlier this month, the SEC dropped its appeal against Ripple. The company’s CEO, Brad Garlinghouse, announced that this marked the end of the lawsuit, which dates back to December 2020. However, some legal experts explained that the case has not officially concluded. US lawyer Jeremy Hogan suggested that the 'bad stuff' is over, but Ripple can now prolong the tussle. One scenario includes appealing against the $125 million penalty Judge Torres ordered the company to pay for violating certain securities laws. Attorney Fred Rispoli assumed that Ripple might ask for a reduced fine of $10 million.
XRP Price Predictions
The major development in the Ripple vs. SEC lawsuit triggered a substantial resurgence for XRP. Its valuation briefly spiked to $2.60 but later retraced to its current $2.45. Many analysts expect a new pump under certain conditions. The user CRYPTOWZRD predicted a rise to an all-time high if XRP exceeds the $2.80 resistance level. The analyst Dark Defender envisioned a jump to $2.75 with 'a little hassle' at $2.55, then an explosion towards $5.85.
Awaiting Catalysts
The developments in the case have caused huge volatility in XRP’s price over the years. However, the potential launch of a spot XRP exchange-traded fund (ETF) in the US may be the next catalyst. Companies like Grayscale and Bitwise have displayed intentions to introduce such a product. The SEC acknowledged some applications and will provide a final approval or rejection in the coming months. A potential approval will allow investors to gain exposure to XRP without dealing with exchanges or self-custody, potentially supporting long-term price growth.
Ripple's victory over the SEC brings optimism among analysts and investors, although legal proceedings may continue. At the same time, the launch of a spot XRP ETF could significantly impact the market.
