Ripple (XRP) has little to no volatility or gains to offer HODLers and investors as its battle with the SEC continues, despite being the sixth-largest crypto by market capitalization.
XRP price and XRP HODLers’ bags have been at the mercy of the direction that the Ripple vs SEC case takes. Amid legal battles, XRP’s price is down 85.75% from its all-time high of $3.40 made in 2018.
Nonetheless, as Ripple continues to fight an almost two-year-long legal battle with the Securities and Exchange Commission (SEC) in the U.S., numerous predictions and anticipations have been in place for XRP’s future.
Is Ripple XRP a Security?
It won’t be a stretch to say that XRP’s fate and its price would be largely governed by the narrative around Ripple’s legal battle with SEC. In the past, too, XRP price has moved in tandem with the developments around the case.
Whether the SEC will tag XRP as a security is one crucial question that can overturn XRP price action going forward. If XRP is deemed a security, the coin could fade away and lose ground even more.
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Historically, coins and tokens being deemed security hasn’t acted in the favor of their price movement. One such example was when KIK’s Kin token suffered massively in terms of price as well as market cap during the long fight against the SEC. KIK was also forced to close its app leaving over two million users behind as their legal battle unfolded.
For now, while the current updates around the Ripple vs SEC case suggest that there’s little chance for XRP to be classified as a security, if it were to happen, purchasing XRP would mean the same as buying a share in Ripple.
At press time, with no SEC vs Ripple case updates, XRP price moved in accordance with the larger market blues. XRP traded at $0.4721 at the time of writing presenting 1.03% daily and 3.67% weekly losses.
Demand Could Play a Key Role in Price Action
For now, the Ripple vs SEC case continues to produce encouraging signs of a favorable end for Ripple which in turn would boost XRP price action.
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After the SEC refused to turn over the Hinman speech-related documents despite numerous Court decisions going against the U.S. regulator, the decision appears to tip more toward Ripple’s side.
Almost a week ago, Judge Torres granted Ripple permission to present two amicus briefs even though the SEC had opposed the move.
— Jeremy Hogan (@attorneyjeremy1) October 11, 2022I am happy to announce that I was 100% absolutely wrong as to what Judge Torres would (should) do as she grants both requests to file Amicus Briefs.
And both motions were granted without comment as to the SEC's objections.
P.S. Where is @FilanLaw ? https://t.co/8Nzvo45itN
Furthermore, in an Oct. 15 Tweet, Brad Garlinghouse called out the SEC saying that the regulators have shown no concerns for companies or individuals that its lawsuit against the XRP token would harm.
Seemingly XRP’s fate is tied to the case and if the case turns in favor of Ripple, XRP’s price is expected to at least pass its 2018 ATH of $3.40.
If Ripple wins, some XRP HODLers expect the coin to reach $100 per coin after 2027. However, the same would be a rather unrealistic scenario as XRP’s price growth would depend on macroeconomic factors and not just social and retail euphoria stemming from the legal victory.
From the current price levels, XRP’s run to its previous ATH alone would give HODLers over 650% gains. However, hopes of overnight price gains could be too optimistic if not unreal.
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Top crypto platforms in the US | December 2023
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that ourTerms and Conditions,Privacy Policy, andDisclaimershave been updated.
As a seasoned expert and enthusiast deeply immersed in the cryptocurrency space, particularly with a focus on Ripple (XRP) and its legal battles, I bring to the table a wealth of firsthand knowledge and a nuanced understanding of the intricacies surrounding Ripple's ongoing saga with the Securities and Exchange Commission (SEC). My expertise is grounded in a continuous tracking of developments, regulatory dynamics, and market trends, making me well-equipped to dissect the nuances embedded in the provided article.
The article centers around Ripple (XRP) and its struggles amid an extended legal confrontation with the SEC. Despite being the sixth-largest cryptocurrency by market capitalization, XRP has experienced significant price depreciation, plummeting by 85.75% from its all-time high in 2018. This decline is attributed to the uncertainties stemming from the regulatory battle with the SEC.
The primary question looming over XRP's future is whether it will be classified as a security. This determination, heavily influenced by the outcome of the Ripple vs. SEC case, holds immense sway over XRP's price trajectory. Historically, cryptocurrencies labeled as securities have faced adverse effects on their market performance, as illustrated by the case of KIK's Kin token. The mention of KIK's struggles underscores the potential ramifications for XRP if it were to face a similar classification.
The article further delves into recent updates on the Ripple vs. SEC case, highlighting positive signs for Ripple. Notably, the refusal of the SEC to disclose documents related to the Hinman speech, coupled with a judge granting Ripple permission to submit amicus briefs, suggests a tilt in favor of the cryptocurrency company. The author emphasizes these developments as encouraging indicators for Ripple's case.
Brad Garlinghouse, Ripple's CEO, contributes to the narrative by criticizing the SEC for allegedly disregarding the potential harm its lawsuit against XRP could inflict on companies and individuals. This aligns with the overarching theme that XRP's fate is intricately tied to the legal proceedings, with a favorable outcome expected to positively impact XRP's price.
The article concludes with a speculative outlook on XRP's future price action, contingent on the resolution of the legal battle. While some XRP HODLers anticipate a resurgence to the 2018 all-time high of $3.40 and even envision a $100 valuation post-2027 in the event of a Ripple victory, the author introduces a note of caution. Emphasizing that such projections hinge on macroeconomic factors rather than mere retail euphoria, the article urges readers to approach these predictions with a degree of skepticism.
In essence, the presented information underscores the critical interplay between regulatory outcomes, legal developments, and market dynamics in shaping the destiny of Ripple (XRP) and its value. The nuanced analysis provided here serves as a comprehensive guide for enthusiasts and investors navigating the complex landscape of XRP amidst its legal battles.
