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COINTURK NEWS > Ripple (XRP) > Ripple Faces Ongoing Legal Battle with SEC
Ripple (XRP)

Ripple Faces Ongoing Legal Battle with SEC

In Brief

  • Ripple continues its legal battle with the SEC, affecting XRP Coin's price.

  • The case may extend for at least another year due to appeals and hearings.

  • XRP Coin's future price predictions hinge on market cap and circulating supply dynamics.

Fatih Uçar
Fatih Uçar 8 months ago
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Ripple $2, one of the largest cryptocurrency projects, has been engaged in a legal battle with the SEC for nearly four years. Despite achieving significant victories in summary judgments, the SEC, dissatisfied with the court’s decision, has appealed. This action has led to the XRP Coin price declining to around $0.50. What does the long-term outlook hold for Ripple?

Contents
Current Status of the XRP Coin CaseFuture Prospects for XRP Coin

Current Status of the XRP Coin Case

The SEC has submitted its appeal, but details are not yet fully clear. The agency will likely present more evidence to establish the strong connection between Ripple and XRP from its early days. Years ago, Ripple attempted to distance itself from the XRP token to mitigate potential damages in the ongoing litigation.

If the SEC can persuade the court with stronger evidence of the close ties between the two, this would strengthen its position. Meanwhile, many attorneys commented positively on Torres’ decisions regarding the appeal, suggesting that Torres may have reached her ruling in a solid and convincing manner, thus reducing the likelihood of it being overturned in the appellate court.

Future Prospects for XRP Coin

The first issue to consider is the circulating supply of XRP Coin. The maximum supply is known to be 100 billion, which is continually entering circulation. Through gradual unlocking, the supply has increased from 45 billion at the start of 2021 to 56.5 billion today. This indicates that over half of the maximum supply is now in circulation.

When predicting the future price, the market cap and current share of XRP Coin can be used as benchmarks. For example, at a price of $1, 59.9 billion dollars in market cap would be necessary, given a circulating supply of 59.95 billion under a 6% annual inflation scenario. Estimations for 2025 suggest that if XRP Coin reaches $2, it would require an impressive market cap of $119 billion.

The Ripple team may consider burning their assets and halting new unlockings to adopt a deflationary approach that could enhance token value. They might also engage large banks to lock up substantial amounts of tokens through institutional agreements, supporting growth in unit price.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Fatih Uçar 10 October, 2024 - 5:02 pm 10 October, 2024 - 5:02 pm
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