The XRP lawsuit was filed against Ripple, a San Francisco-based crypto solutions company and cross-border payment firm by the U.S. Securities and Exchange Commission (SEC) in December 2020.
The SEC claims that the XRP Ledger native token (XRP) is a security, causing many crypto investors to be skeptical about investing in the sixth-largest crypto by market capitalization. It has also made some existing holders of XRP consider selling off their holdings as it remains uncertain when and how the Ripple-SEC case would be concluded as well as the impact.
However, Edoardo Farina, Chief Executive Officer of Alpha Lions Academy and Head of Social Adoption at XRP Healthcare, believes it is an unwise decision for existing XRP investors to dump their assets before the lawsuit ends. He implies that investors should wait for Judge Analisa Torres to issue the final ruling in the XRP lawsuit before deciding what to do with their XRP holdings.
He wrote, “The worst move you can possibly do is to sell XRP before [the] end of SEC lawsuit,” the expert said on Monday. Farina’s stance happens to be in line with previous sentiments shared by several experts such as Ben Armstrong AKA Bitboy and crypto analysts.
As published, many crypto strategists believe XRP would launch into a bullish trend if it is classified as a non-security by the court. Also, top analysts have shared their respective charts, showing how the asset could reach new all-time highs.
Notably, veteran trader Peter Brandt believes XRP would trade for $3 by the end of 2023. Whereas Egrag who recently stated that XRP below $1 is a life-changing opportunity said the asset could surpass $27 by the end of the year. On the other hand, Bitboy noted that XRP would be the top performer in the next crypto market bull run.
With all these circulating predictions, investors are all waiting for the conclusion of the Ripple-SEC case. This highly anticipated Summary Judgment is predicted by many including Ripple CEO Brad Garlinghouse and John Deaton, the attorney representing over 75,000 XRP holders in the lawsuit, to happen this year.
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