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The Ripple vs SEC lawsuit has perhaps affected the XRP the most. Since the company has been burdened with the lawsuit against it, Ripple has spent a lot of energy and efforts within the case. As a result, the company barely made any significant development and so lacked the XRP.
Many people keeping an eye on the lawsuit think that it will soon come to an end. And this will happen after an out of court legal settlement. Regardless of the method, whether in court or out of the court, XRP users might only want Ripple to get rid of the case as soon as possible.
Following such possibilities and buzz all around the crypto asset, experts believe that XRP could show significant performance after the matter gets resolved. Currently, XRP is positioned at the seventh cryptocurrency within the crypto market in terms of overall market capitalization. However, there is another group of people which disagree with the thought and are confused or unsure about the movement of digital assets.
The United States Securities and Exchange Commission charged XRP as an unregistered security. The agency filed a lawsuit against the payment protocol Ripple and its executives. Company denied the claims of the SEC and since then the case is under “gradual development”.
However, Ripple is expected to soon clear out the matter with the SEC, unlike others who went to the ashes fighting the legal battles against the agency.
A crypto legal expert said that everything will be clear by November of this year. He is assured of the SEC and XRP settlement in upcoming months.
Given the fact the case is going to resolve soon, predictions are also out for XRP. A crypto analytics firm projected XRP to achieve 1.04 USD by 2024. Although the end of the legal battle would impact the XRP price, there would still be a need for investors to stay cautious.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
