Ripple‘s ongoing lawsuit with the SEC is moving toward a conclusion after it appealed the SEC’s request for a $2 billion penalty. The legal battle, which has been going on for more than two years, continues to play an important role in the course of the XRP price.
Other cryptocurrencies in terms of price movement XRPWhile leaving behind, the token seems to have fallen victim to skepticism. Due to the unprecedented interventions in the case, the price suffered severely and fell to low levels.
But now that the SEC and Ripple battle is nearing its end and the company has emerged victorious at most stages. according tothis development could soon catapult the XRP price to new highs as well, reversing years of slow price momentum.
Uncertainty regarding the development of the case is putting pressure on XRP, which has fallen 2% in the last 24 hours. The token is currently trading at $0.50 and moves with recent court developments.
Our opposition to the SEC’s request for $2B in penalties for legacy institutional sales is now public. In a case that had no investigation (or findings) of recklessness or fraud, and in which Ripple won on significant issues, the SEC’s ask is just more evidence of its ongoing… https://t.co/GLcdsyInZW
— Stuart Alderoty (@s_alderoty) April 23, 2024
NEWS CONTINUES BELOW
The court has not yet determined the outcome of the SEC and Ripple case, which has brought XRP price uncertainty to new levels. According to Amelie, a prominent XRP advocate, if the court accepts Ripple’s $10 million payment, it would officially mark the end of the court turmoil. This could push the token to drastically climb new price milestones and overtake leading altcoins to set a new market pace and record.
⚠️ RIPPLE VS. SEC:
If Sarah Netburn decides on April 29th that #Ripple will pay out 10 million, that will be the end of the SEC case! ⚖️
It’s just a matter of time when we get an official announcement! 🔊https://t.co/pYp3BsJ0FC
— 𝓐𝓶𝓮𝓵𝓲𝓮 (@_Crypto_Barbie) April 28, 2024
According to CoinCodex, it is possible for the token to increase by approximately 18% in this period and reach $0.61.
“The price of XRP is estimated to increase by 18.87% and reach $0.616084 by May 28, 2024. According to our technical indicators, current sentiment is bearish while the Fear and Greed Index reads 65 (greed). “XRP has recorded 13/30 (43%) green days with 8.51% price volatility in the last 30 days.”
If the court manages to give a positive answer in the Ripple vs SEC case, the price of the asset may rise and surpass the $1 price mark in a short time.
“A very important moment will be exceeding the $1 level. Breaking this level could significantly increase the chances of the price reaching a potential high of $2.23. “Conversely, if the downtrend continues and the price falls below $1.60, it could signal a prolonged collapse phase.”
