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Reading: Speculators Track XRP Price After Recent Developments in Ripple’s SEC Lawsuit
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COINTURK NEWS > Ripple (XRP) > Speculators Track XRP Price After Recent Developments in Ripple’s SEC Lawsuit
Ripple (XRP)

Speculators Track XRP Price After Recent Developments in Ripple’s SEC Lawsuit

In Brief

  • XRP's price is affected by the SEC's decision to appeal.

  • Analysts predict potential price increases for XRP in the coming months.

  • Investors are encouraged by rising institutional interest in the cryptocurrency market.

Ömer Ergin
Ömer Ergin 2 years ago
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This week, XRP has caught the attention of market participants following recent developments in Ripple’s legal battle with the U.S. SEC. The SEC’s decision to appeal the court ruling indicates that the legal struggle is far from over. This move has sparked speculation within the cryptocurrency market, resulting in significant selling pressure on XRP’s price.

Contents
Famed Analyst Predicts XRP Price Will Reach $5Next Steps in Ripple’s SEC Case

Famed Analyst Predicts XRP Price Will Reach $5

Despite the recent downturn, well-known analyst EGRAG Crypto suggests that XRP’s price could potentially hit $5. According to EGRAG Crypto, two possible scenarios support this prediction.

The analyst notes that if the SEC’s appeal leads to a situation similar to December 2020, XRP could reach the $5-6 range. Furthermore, he expresses that if Bitcoin $78,183 achieves a new record level between $80,000 and $100,000, other altcoins like XRP may also experience a similar increase. EGRAG Crypto stated, “If the SEC’s appeal allows Bitcoin to reach $80,000, XRP could rise to $2.31.”

Next Steps in Ripple’s SEC Case

According to XRP supporter lawyer Fred Rispoli, it is unlikely that the Ripple $1-SEC case will conclude before early 2026. This statement has led to various speculations in the cryptocurrency realm, with many criticizing the SEC for prolonging the lawsuit. Hogan remarked that “the SEC’s recent appeal is a major mistake,” indicating the confidence in the company’s chances against the appeal.

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Ripple CLO Stuart Alderoty targeted the SEC, indicating that a cross-appeal may occur in the case. Meanwhile, XRP’s price fluctuated around $0.523 after a brief increase earlier in the week.

Investors express satisfaction in seeing increased institutional interest in cryptocurrency following Bitwise’s application for an XRP ETF. Additionally, EGRAG Crypto’s recent bullish prediction boosts market confidence, suggesting potential upward movement for XRP in the near future.

While the ongoing Ripple-SEC case creates uncertainty among investors, some analysts maintain their faith in XRP’s long-term potential. The continuing appeal process may cause volatility in the crypto market, yet optimistic forecasts from analysts provide hope for investors.

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Ömer Ergin 4 October, 2024 - 4:39 pm 4 October, 2024 - 4:39 pm
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