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Qadir AK
Qadir AK
Author
Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
- May 20, 2024 08:44 UTC
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Ripple vs SEC Nears Climax: Should You Buy XRP Now?
Ripple vs. SEC settlement could cause XRP price to surge, especially if it clarifies XRP is not a security.
Court decision on sealing Ripple documents today could impact XRP price in the short term.
Crypto analysts predict a significant rise in XRP price in the long term, with some expecting a "parabolic run".
BitBoy Crypto, also known as Ben Armstrong, recently shared insights into the possible outcomes of the ongoing legal battle between Ripple and the SEC. He believes that if the two parties settle their differences, XRP’s value could skyrocket. Moreover, such a settlement could finally clarify that XRP is not a security, removing a major hurdle for its growth.
Sounds good, right? Here’s some more insight.
Anticipation Grows as Ripple-SEC Talks Progress
In a chat with Fox News, BitBoy Crypto discussed rumors suggesting that Ripple and the SEC might reach a settlement soon. He thinks this could boost XRP’s price, especially as the broader market turns bullish. This news has sparked excitement among XRP investors closely watching the legal showdown.
In the Endgame Now! What It Means for XRP
The SEC v. Ripple lawsuit is nearing its conclusion, with both parties submitting final legal briefs. Today’s deadline marks an important step as the court will rule on sealing motions. If the court decides to keep Ripple’s information private, it could boost XRP’s price and make investors feel more positive. However, investors might be worried if the SEC gets its way and more details come out.
After today’s hearings, the judge will decide which information will stay private. Then, within 14 days, the parties will make redacted versions of the documents public.
What’s Holding XRP Back?
Despite a previous ruling stating that XRP is not a security, the legal battle continues to weigh on the cryptocurrency. Investors are wary due to uncertainty about XRP’s regulatory status, causing its price to fluctuate between $0.530 and $0.4965, currently at around $0.515.
Expert Analysis: Time to Invest in XRP?
BitBoy Crypto’s mention of a potential “parabolic run” in XRP’s price during the early stages of a bullish market highlights the optimism surrounding XRP’s future. Additionally, another analyst, Dark Defender, predicts XRP could reach $18 based on the Elliot Wave theory. However, he warns of short-term volatility, suggesting a temporary drop to $0.39 before a bullish rebound.
Despite the legal uncertainties, XRP continues to rise. Is now the right time to invest? Share your thoughts on the unfolding situation.
Also Check Out : Top Ripple 2024 Predictions: Less XRP Sales, More Stablecoins & IPOs?
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