XRP, the seventh-largest cryptocurrency by market capitalization, experienced a significant 50% spike in trading volume over the last 24 hours. This sudden surge comes as the SEC sets a key date for its principal brief in the Ripple appeals case: January 15, 2025. The announcement has reignited debates within the XRP community and among legal experts about the token’s regulatory future.
How this all plays out will impact XRP’s price massively. What’s coming next? Read on for details.
Bill Morgan, a notable legal voice in the XRP community, in a recent tweet claimed that XRP’s value is tightly linked to Ripple’s efforts, effectively making it Ripple’s security instrument.
“Without XRP, one cannot benefit from Ripple’s efforts, and with XRP, one cannot be unaffected because its market value reflects Ripple’s actions.”
However, Morgan challenged this viewpoint, stating there is no evidence from the SEC v. Ripple case—whether expert opinions, lay testimony, or concrete proof—that shows Ripple actively promoted XRP to retail investors.
Morgan noted that many long-term XRP holders disagree with the idea that Ripple’s efforts have positively influenced XRP’s price over the past seven years. Instead, some believe Ripple’s periodic sales of XRP from escrow have suppressed its value, contradicting claims that Ripple’s actions drive the token’s market performance.
While Morgan acknowledged that the legal theory presented in a recent article had some merit, he criticized it for being based on flawed reasoning and lacking factual support. He emphasized that court decisions rely on evidence, not speculation. Unless the SEC highlights overlooked evidence in its appeal, Morgan is doubtful this argument will affect the case’s outcome.
In response to Morgan, Joe Sho, the author of the article in question, clarified that his work offered an analytical perspective rather than a standalone theory.
While Morgan appreciated this clarification, he pointed out that the XRP community is more focused on broader regulatory and market issues than on detailed legal arguments.
XRP is currently in a correction phase after hitting a high of $1.15. The price has dipped below $1.10 and may test the $1 support level before attempting a rebound. Despite the correction, analysts remain optimistic, with a potential target of $2 as long as XRP holds above the key $0.785 support level.
Regardless of the legal verdict, XRP remains a key player in the crypto space and one you should absolutely keep your eye on.
No, the Ripple vs. SEC case is not over. It is still ongoing, with significant legal battles around XRP’s classification as a security or not.
XRP might reach a high of $2.49 or an average of $1.73.
XRP’s future price is uncertain. While some anticipate a surge due to legal developments, market conditions and SEC outcomes will heavily influence its value.
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