Ripple (XRP) is trying to circumvent the danger of losing the progress it has made since the beginning of 2023. Traders, on the other hand, want to determine their investment strategies by carefully following current and future developments.
In the article we compiled today, we discussed the XRP developments that are expected to take place in March. Among them cryptocurrency In addition to market-based developments, there is also the risk of changes due to macroeconomic developments. If such risks do not come at an unexpected level, the price of the token is expected to be on the upside.
Anticipated Ripple Litigation
XRPRipple, the company behind , has been in a legal battle with the SEC for over two years. The outcome of this case will definitely affect the token price.
While the court’s decision date is still uncertain, Ripple CEO Brad Garlinghouse optimistic that the decision will be taken in the first half of 2023. Pro-Ripple attorney John E. Deaton believes there is a small chance that this will happen in March.
I don’t think it will happen before March 31, but it’s possible because the judge is aware of it. He gave us the status of amici. He knows he has tens of thousands of owners, and 17 amicus summaries have been presented in this case, so it’s very possible, but you have millions of pages of documents filed. Will review them.
Legal Struggle Expands
At the same time, the SEC is facing another battle against the Ripple crowd, as Fred Rispoli, an XRP community attorney from Hodl Law, filed a lawsuit against the regulator two months ago and asked the court to declare that Ethereum and ETH are not securities.
In response, the SEC submitted a petition to dismiss the lawsuit, stating that “Hodl Law’s own allegations make it clear that the SEC has not reached a final decision on the Ethereum network or ETH.” The first hearing in this case is scheduled for March 13, and the developments are expected to have significant impacts on the ecosystem.
Will XRP Price Increase?
Koinfinans.com As we reported, while the events expected to take place in March 2023 have a chance to have a strong bullish impact on Ripple price, the community sentiment of the financial monitoring platform TradingView is quite bearish and the oscillators are in the slightly ‘buy’ range, although the summary indicators are for XRP. proposing a ‘sale’.
Considering all these developments, the CoinMarketCap community expects a 9.8% rise by the end of March. It will be interesting to watch the impact of these events on XRP, which is currently trading at $0.3777, as the algorithms at PricePredictions suggest only a small increase by March 1 and even a decrease by March 31.
You can follow the current price action here.