The ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) has significantly stalled XRP’s progress in the U.S. However, with the lawsuit ending soon, many within the XRP community are actively discussing the potential impact of the lawsuit’s conclusion on the digital asset’s price.
One prominent voice in this conversation is JackTheRippler (@RippleXrpie), a prominent community member. JackTheRippler believes a definitive resolution to the lawsuit could pave the way for XRP to become the first cryptocurrency to achieve full regulatory clarity for cross-border payments within the United States.
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JackTheRippler believes this regulatory clarity will be a major turning point for XRP. He argues that such a development would make a significant price increase inevitable, projecting a future value ranging from three to five digits for XRP. This prediction puts XRP between $100 and $1000.
The SEC v. RIPPLE case will come to an End and #XRP will become the first digital asset with FULL regulatory clarity in the United States of America for cross-border settlements!
3-5 digits per XRP is inevitable. pic.twitter.com/BmSf6jxTg6
— JackTheRippler ©️ (@RippleXrpie) April 22, 2024
JackTheRippler prediction builds on a previous statement where he tagged XRP at $1,000 a paltry target. He based this earlier forecast on the anticipated growth of the tokenization market, specifically the potential for $50 trillion in tokenized value to flow through the XRP Ledger (XRPL). In such a scenario, he suggests XRP can significantly surpass a $1,000 price point.
This most recent prediction extends JackTheRippler’s bullish outlook even further, hinging on the resolution of the SEC lawsuit.
The SEC’s Egregious Request
In late March, the SEC proposed a judgment demanding approximately $2 billion in fines and penalties from Ripple for alleged violations of securities laws. The court determined in July 2023 that non-institutional XRP sales were not securities offerings.
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However, the SEC is looking to punish Ripple for the institutional XRP sales, which allegedly violated securities laws. If the court upholds the SEC’s position, Ripple would be obligated to pay the hefty fine within 30 days of the ruling. However, Ripple’s legal team firmly opposes this proposed judgment and intends to contest it through their counter-brief.
The eventual outcome of the SEC lawsuit will significantly influence the future trajectory of XRP. JackTheRippler’s prediction reflects the optimism of many within the XRP community regarding the digital asset’s potential once the legal uncertainty is resolved. However, if the SEC decides to appeal the ruling about XRP’s securities status, some experts believe the lawsuit might reach the Supreme Court.
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