Recently, the US Securities and Exchange Commission, under the leadership of its acting chairman, Mark Uyeda, has withdrawn cases against top crypto firms, including Coinbase and Consensys. There are rumours that the regulator will drop its four-year-old legal battle against Ripple soon. In July 2023, when Judge Analisa Torres ruled in support of Ripple’s argument that XRP was not a security, the XRP price climbed by at least 101% before experiencing a notable drop. Considering this historic trend, if the SEC withdraws its legal proceedings against Ripple, the price of XRP may experience massive growth. Dive in for more details!
Ripple Is Negotiating with the SEC
It was the permanent injunction placed on Ripple’s XRP sales to institutional investors that truly crippled the growth potential of XRP.
It has been confirmed by multiple sources that Ripple is negotiating with the SEC to remove the injunction before the dismissal of the case.
Experts suggest that removing legal restrictions on XRP sales could boost investor confidence.
AI Predictions for XRP Price Increase
An analysis conducted using ChatGPT reveals that if the XRP market repeats its July 2023 reaction, the XRP price could rise approximately 101%.
Currently, the price of XRP stands at $2.33. A 101% growth means the price could touch nearly 4.68%.
The same analysis notes that a stronger reaction could push the price to at least 150%, reaching $5.82.
The analysis also states that if a bull market joins in, the price may rise by 200% to $6.99. Regulatory clarity, market conditions, institutional demand and FOMO will influence price movement.
Conversely, some analysts warn that the XRP market has already factored in the settlement. Without a surprise element, XRP may not rise as much as expected.
Possible US Government XRP Purchase
US might use the $125 million settlement money to buy XRP. If this happens, it could increase confidence in the XRP market.
Reports also indicate that once the lawsuit is settled, Ripple may launch an IPO. According to an analysis, if Ripple launches an IPO, the price of XRP could reach as high as $10.
In conclusion, the Ripple vs. SEC case is nearing its conclusion, and its impact on XRP remains uncertain. If the market reacts strongly, XRP could see a big rally, but some experts believe expectations have already been priced in.
