Investors are now evaluating how high could XRP go amid a conclusion to the SEC v. Ripple lawsuit.
With XRP being a hot topic at the moment, Finance Feeds has been speaking with Natalia Zakharova, from FXOpen, a leading retail and institutional FX broker, about the SEC v. Ripple lawsuit and its weight on XRP.
In March 2021, the FXOpen executive told us that a Ripple settlement could trigger a “dramatic” bullish move in the XRP market. This time around, she explicitly pointed to price targets, including $1.80 amid a settlement this year.
The continued high-profile lawsuit which was effected against the Ripple network by the Securities and Exchange Commission (SEC) in the United States has turned into something of a stalemate situation, with investors and regulators awaiting different outcomes, said Ms. Zakharova.
“Recently, speculation has arisen that Ripple may win the lawsuit, which has led to a quiet confidence among users of the payment protocol and investors in the XRP native token, and a stand-off by the SEC which risks its reputation if the lawsuit that it instigated against Ripple turns out to be unsubstantiated.
“Ripple has a market cap of over $40 billion, and has steadily retained that level since the middle of last year, demonstrating that as a network, even with the SEC’s litigation pushing hard and keeping Ripple in the news for a long period of time”, she explained.
As the court begins proceedings toward ending the litigation, with both parties expected to come to an agreement as to the summary judgment briefing schedule, investors are now evaluating how high could XRP go amid a conclusion to the lawsuit.
“Its value is now sitting at around $0.72. There are some hints that it may move toward the $1.20 mark if those watching it become buyers, but there may well be a rush toward $1.80 during the course of this year if Ripple finally settles its lawsuit with the SEC”.
FXOpen’s Zakharova reminded that “it’s not all over yet” as the SEC looks to extend matters as much as possible. Settlement would be the fastest route to make the lawsuit go away, but it seems that the only way for that to happen is through the ghost of William Hinman and his 2018 speech.
A recent ruling by Judge Sarah Netburn has made it unlikely for the DPP issue to be picked up by the Appellate Court, according to XRP Holders’ attorney John Deaton. This may raise the chances of a settlement between Ripple and the SEC.
Deaton has recently said, “if they have to turn over the Hinman 68 draft emails or a ruling on fair notice, I agree they settle”. The SEC is reportedly aiming for a strict Howey analysis on XRP.
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