Ripple Labs’ long-running legal battle with the Securities and Exchange Commission (SEC) is finally coming to an end. A decision is likely in late 2023, and the outcome may have a significant impact on the price of XRP.
A crypto proponent with the handle @cryptoassetsguy recently cautioned XRP holders to temper their expectations for the price of XRP after the litigation is resolved. While XRP may hit a new all-time high (ATH) above $3.70, he believes it is unlikely to reach $100,000, $1000, $100, or even $50 as envisaged by various crypto analysts.
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I love the $XRP community, but there are some moon boys that need to understand this:
When the lawsuit ends it wont hit $10000, $1000, $100 or $50
It could reach new ATH. Which is above $3.70 and we should all be more than satisfied
— Crypto Assets Guy (@cryptoassetsguy) June 22, 2023
The XRP community has had different reactions to the XRP proponent’s message. Some users agree with his assessment, while others believe the price of XRP might notably rise beyond its all-time high.
Experts weigh in
Several experts have commented on the likely price movement of XRP when the SEC litigation is resolved. Some experts anticipate that if the SEC wins its case, the value of XRP will fall.
The SEC has accused Ripple of selling XRP as an unregistered asset, and if the court rules in favor of the SEC, XRP may be categorized as a security and subject to rigorous regulation. This may make it impossible for XRP to be exchanged on exchanges, resulting in a large drop in demand.
Others feel that even if the SEC wins the case, the price of XRP would not be changed considerably. They contend that XRP is currently used by banks and other financial institutions and that its utility will surpass any regulatory worries. They also point out that XRP is one of the world’s most popular cryptocurrencies, and that its price is expected to remain constant even if the SEC wins the lawsuit.
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The outcome of the SEC action will have a significant impact on XRP’s price. Even if the SEC wins the case, XRP holders remain optimistic about the cryptocurrency’s future. They feel that XRP is currently undervalued and that it will grow dramatically in the long run.
While it is hard to predict the price of XRP until the litigation is resolved, it is apparent that the outcome of the case will have a significant impact on the value of XRP. Therefore, holders of XRP should expect both positive and negative results and modify their expectations accordingly.
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