The crypto community is closely watching the situation surrounding Ripple and XRP as the long-standing SEC case may be nearing its conclusion.
Overview of SEC vs Ripple Case
The SEC has been in litigation with Ripple for over four years. Ripple has agreed to drop its cross-appeal, with indications that the SEC may follow suit after a closed-door meeting on July 3. This could mark the official conclusion of the case.
Market Impact and Price Predictions
Recent analyst forecasts indicate that XRP price could reach between $8 to $15 if there is sustained adoption after the lawsuit ends. Currently, XRP is trading around $2.18.
Institutional Adoption Prospects for XRP
Analysts, including Nasdaq's Trevor Jennewine, believe a final ruling could prompt more banks and payment firms to adopt XRP for transactions. This opens up possibilities for Ripple and increases the likelihood that major players like BlackRock will consider filing for an XRP ETF.
The end of the SEC case may lead to the long-awaited adoption of Ripple and XRP. This is expected to potentially change the cryptocurrency market and open new horizons for price growth.
