XRP is a favorite of investors and one of the most traded cryptocurrencies in terms of volume. Its volume has decreased by 25% in the last 24 hours compared to the previous 24 hours. However, Ripple still has $1.7 billion in volume. Accordingly, it is behind only Bitcoin, Ethereum and the three largest stablecoins. In the meantime, it is possible for the cryptocurrency to continue its recent rally. If this happens, the price is among the possibilities to reach $ 0.70.
However, for XRP fans, price is not that important in the short term. This is because XRP has already been traded low for a long time due to the SEC litigation. Despite the lawsuit, the token remained among the top 10 digital assets as its technical fundamentals remained strong. Now the end of the lawsuit is approaching and if Ripple wins the lawsuit, it looks like it will see huge price increases. So, is it possible for the XRP price to reach $1 and $10 in the future?
Will Ripple win the SEC case?
For the answer to the above question, first of all, Ripple has to win the SEC case. Although it is impossible to know how the case will end, the developments in the last weeks have been in favor of XRP. At the end of September, US District Judge Analisa Torres allowed Ripple to use comments by former SEC staff member William Hinman in her defense. While working as the Director of Corporate Finance in 2018, Hinman emailed him saying that Ether (ETH) is “totally decentralized” just like Bitcoin.
The SEC had previously refused to use these email documents on the grounds that they belonged to a former staff member. These emails are of great importance in Ripple’s defense. It is also a significant chance for XRP to prove that it is not a security just like ETH. It was a huge victory for the crypto company that the judge approved Ripple’s use of these documents. Now both parties have applied to the court for a summary decision. This means that the case will be concluded within the next 12 months.
CBDC and Binance support above XRP
Meanwhile, financial information transfer service SWIFT has completed an eight-month testing period for its global central bank digital currency (CBDC). Accordingly, SWIFT has tested several protocols that it has not disclosed. But given its status as a well-known CBDC solution, one of them is likely to be XRP and Ledger.
However, the world’s largest crypto exchange Binance continues to show its support for XRP. Many see this support as a sign that Binance thinks Ripple will win the case. cryptocoin.com As we reported, Binance has added XRP to its ‘Learn & Earn’ section. Thus, it supported the adoption of the token by a wider investor base.
When will Ripple reach $1 and $10?
Whether XRP reaches $1 or $10 depends on the outcome of the SEC case. If Ripple loses, it will almost be the end of this protocol as a legitimate investment. But if it wins, the price will also see big gains. There are also strong signs that he will win at the moment. With his win in the lawsuit, institutional investors and crypto enthusiasts are likely to flock to buy the altcoin. In addition, Ripple will also find great institutional recognition for its technical solutions.
A victory in the lawsuit would not only gain Ripple acceptance for its foundations, but also make it the first crypto fully regulated by the US government and court. This has the potential to attract more investment from institutions that previously stayed away from adopting Blockchain and Web3 technologies. Ultimately, it all depends on the outcome of the case. If Ripple wins, the XRP price will likely reach $1 or even $10 in the coming period.
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