The post Ripple vs. SEC Lawsuit Settlement Speculations: Will the XRP Price Hit New Heights? appeared first on Coinpedia Fintech News
Speculations abound as a possible SEC settlement looms. Could this propel $XRP to new ATH heights? XRP has shown subdued performance lately, likely due to the Ripple-SEC lawsuit.
However, an upcoming closed-door meeting between the SEC and Ripple today holds the potential for a resolution that could significantly impact XRP’s value, albeit uncertainly.
Amid the upcoming SEC closed-door meeting, speculations of a potential settlement of the multi-year Ripple lawsuit have emerged.
Settlement on Cards?
Although the agenda of the meeting remains undisclosed at press time, XRP community members speculate that the regulatory commission could discuss various matters, including the potential settlement of the Ripple lawsuit.
Prominent crypto enthusiast JackTheRippler stirred rumors about a potential SEC-Ripple settlement, though neither party has confirmed. The uncertainty surrounding the ongoing legal battle has hampered XRP’s potential, with its value heavily influenced by developments in the case. The upcoming closed-door SEC meeting, inaccessible to the public, remains a focal point for stakeholders.
Despite a previous settlement conference in March, there’s no official update on the outcome. While Ripple is open to settling, the SEC is pursuing resolution through court verdicts, despite some rulings favoring Ripple. Currently, the case is in the remedies phase, with the SEC seeking a penalty of nearly $2B against Ripple.
Despite the uncertainty, some in the Ripple community, like JackTheRippler and Crypto Barbie, remain optimistic about an XRP bull run, foreseeing positive outcomes post-settlement. Others, like Doctor Magic, believe in XRP’s resilience, predicting a breakout to $1 regardless of the hearing’s outcome.
XRP’s value is currently around $0.6076, and it will only reach $1 ATH if it goes above $0.7000. Future events like Bitcoin halving and the chance of an XRP ETF after the lawsuit is over could help this price increase.
Signs of Potential Breakout for XRP
According to Matthew Dixon, CEO of Evai, XRP is showing signs of potential growth. Dixon notes a significant increase in XRP’s trading volume, suggesting growing interest in the coin. Despite this, XRP’s price has remained stable at around $0.61, with a modest 24-hour gain.
Crypto expert Armando Patoja predicts a remarkable 3,000% surge in XRP’s price, comparing its potential to Bitcoin’s historic growth. However, some in the community express skepticism, citing concerns about XRP’s momentum and ability to achieve such high price levels without significant developments.
