The XRP price has hardly been able to rise in the last few weeks, while Bitcoin has seen a price explosion. After the coin was not able to rise as much in the 2021 bull market, the performance is now also worse in the bear market. However, a Ripple win against the US Securities and Exchange Commission could reverse the trend. Will we then see a price explosion from the XRP coin to $3?
How has the XRP price moved so far in 2023?
At the turn of the year 2022 / 2023, the price was 0.33 dollars after the long fall in the bear market. For comparison: the all-time high from January 2018 is around 3 dollars. At the turn of the year, the crypto market became significantly more bullish again. But for the XRP coin this was only partially true.
Unfortunately, the XRP price could only rise slightly until recently and saw more of a sideways trend with strong fluctuations. Up until a few days ago, the Co in was just $0.36. The course was able to rise to $0.42 in January.
In the last few days we have seen a sharp increase in the XRP price. The coin surged from $0.36 to over $0.46. This was due to positive expectations about a possible ruling in the lawsuit against the SEC.
Can Ripple win against the SEC?
It is an ongoing discussion in the crypto market. The SEC accuses Ripple and its founders of illegal securities trading. The reason for this is the fact that Ripple Labs issued the XRP coins centrally.
Should XRP lose the lawsuit, there could be a massive implosion in the XRP price. However, if it ends positively, the XRP coin should see strong increases again. That’s why we see a generally poorer performance of the coin over the last 2 to 3 years. However, there are always slight bull runs when there is positive news about a possible good outcome of the legal dispute.
Can the XRP coin explode to $3 on a win?
The XRP coin could benefit massively from a court victory against the SEC. At the moment, it’s still hard to say how the litigation should end. The SEC is cracking down on crypto companies. Nevertheless, the facts of the case must ultimately be clarified in court.
A surge to $3 is the big hope for many Ripple fans. Because they assume that the XRP coin has been massively undervalued since the last bear market. If the verdict is positive in the coming months, a massive increase could follow. Whether $3 is realistic again is hard to say.
Recommended posts
You might also like
More from Altcoin
Credit: Source link
