With Ripple’s recent victory over the SEC lawsuit, the XRP token skyrocketed. This, in turn, potentially saw a significant turn in the market journey. XRP is still trading below $1. According to crypto expert Anders Bylund, Ripple offers a good investment opportunity for diversified crypto portfolios.
SEC and Ripple casedecision was made inXRP skyrocketed!
The long-running lawsuit of the Securities and Exchange Commission (SEC) against Ripple is finally over. For this reason, cryptocoin.comAs you can follow, the crypto market has grown like an avalanche this week. XRP rallied as high as 76% in four hours before retreating from the absolute top. At the time of this writing, the token is trading at $0.7259. Has the international payment processing expert exhausted all market interest in Thursday’s legal ruling, or should you consider buying a few of these tokens when they’re under $1?
I won’t go too deep into Ripple’s business model today. Suffice it to say that the blockchain network and XRP token are focused on providing large-scale international payment transactions with minimal transaction costs and blink-of-the-eye payment times. Instead, let’s look at how the courtroom fight with the SEC turned out. Also, let’s focus on what this means going forward for Ripple investors.
After years of legal wrangling and months of intense deliberation, Judge Torres decided that Ripple’s activities did not meet the Howey Test and were therefore not subject to the rules and regulations that apply to an eligible security. The SEC, which governs the trading, taxation and ownership of securities, does not have the authority to impose its rules on Ripple. By the way, this is not a complete victory. Because, the judge also ruled that Ripple mismanaged its sale to institutional investors before offering XRP tokens to the public. Most crypto investors just wanted to see if the SEC had any power over the market. However, Judge Torres said it wasn’t.
What’s next for Ripple?
The case is not over yet. The SEC will likely appeal against three of Judge Torres’s four summary judgments. Ripple Labs, on the other hand, will object to the latter. Precedent cases like this can end up in the US Supreme Court years later.
However, the rulings removed the SEC’s threat of suing cryptocurrency traders and exchanges for alleged crimes of trading unregistered securities. American crypto exchanges, which ended their support for the trading of XRP tokens in 2021, reopened their floodgates. Robinhood Markets is still evaluating this issue. But Binance US and Coinbase Global hit the button on Friday.
Let us remind you that investors abroad were able to work with XRP during the litigation process that started in December 2020. Still, the return of interested owners, traders, speculators and long-term investors in the world’s largest financial market should be seen as a huge plus for Ripple’s trading liquidity and long-term pricing prospects. Ripple’s trading volumes will remain wider and deeper than the modest trickle that started in 2021 and ended this week, after the momentary anger subsides.
Can you buy XRP when it’s under $1? What are the alternatives?
In light of these events, XRP is definitely an attractive investment opportunity, especially since its value is still under $1. Because the latest court ruling will dispel the specter of the SEC. Also, American crypto exchanges have taken action for XRP trading. Moreover, there is a consistent demand for XRP in international markets. So, Ripple’s price outlook is promising.
However, as with any investment decision, it is very important to take a balanced approach. Ripple is a viable candidate for its crypto portfolio. On the other hand, this does not have to be the best crypto investment on the market. Strong cryptos like Bitcoin and Ethereum still provide solid value and market stability. At the emerging edge, Polkadot is a direct bet on Web3, the decentralized internet. These three persuasive crypto projects also benefit from Ripple’s success in the courtroom as the SEC has stepped away from direct regulation of the digital assets market.
Ripple-friendly legal decision this week or not, I still prefer these three crypto names. These are the basic building blocks of the digital financial system that is taking shape before our eyes. So, it makes sense that the current Ripple buzz is tempting. However, you still need to be careful. Don’t make the mistake of putting all your eggs in the XRP basket. But you might consider testing the waters while it’s still under $1. Certainly, a round number has a strong influence on the crowd psychology of investors. However, there is nothing magical at this particular price point.
The opinions and comments in the article belong to the experts and are not investment advice.
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