XRP is a digital currency produced by the Ripple company that allows users to make money transfers. However, altcoin is considered a controversial cryptocurrency by many individuals and organizations. This is because XRP is considered to be decentralized.
XRP runs on RippleNet, a centralized ledger managed by Ripple. For this reason, some members of the cryptocurrency community consider XRP a “centralized cryptocurrency.”
There is also the SEC case, which is the spice of this debate. The SEC (US Securities and Exchange Commission) has filed a lawsuit against Ripple, claiming that XRP can be considered a security. This lawsuit sparked a serious debate about the legal status of XRP.
All this prevented the price of XRP from setting new highs in the 2021 bull run, unlike other leading crypto assets. However, the asset had an impressive price in the first quarter of 2023 as investors await a positive decision in the SEC lawsuit. The price of XRP has increased by over 58% over the period in question.
Rising Expected
Ben Armstrong, the famous cryptocurrency phenomenon and content producer known as Bitboy, shared a post on Tuesday. in the tweet XRP estimated. According to Armstrong, the altcoin will be the star of the next bull run unless Ripple gets a positive resolution in the SEC case and there is no appeal. “The print is almost done,” Bitboy guessed.
Koinfinans.com As we reported, the statements of the famous name received various responses from the Twitter crypto community. While many in the XRP community agree with Armstrong, others have chosen often overlooked cryptocurrencies such as Cardano’s ADA and Litecoin (LTC) as main competitors. Meanwhile, Armstrong is not the only expert waiting for the altcoin price to rise, as XRP’s latest rally has attracted unexpected supporters.
As we reported last month, veteran trader Peter Brandt also expects a significant rise in XRP.
Massive Rally Could Come From This Altcoin: Legendary Analyst Says 455% Possible!
According to experts, the final decision in the SEC v Ripple case is expected in the first half of this year. There are three possible scenarios at this point: As noted by Ripple (XRP) Chief Legal Officer Stuart Alderoty, the judge could rule in favor of the SEC or Ripple or send the matter to a jury trial.
You can follow the current price action here.
Source : the crypto basic