The prolonged legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple continues to impact the cryptocurrency market. Despite a ruling from Judge Analisa Torres in August 2024, the SEC has pursued an appeal, extending the case and leaving investors uncertain about XRP’s future.
XRP Price Projections
The price of XRP has been directly affected by the ongoing legal battle, as community members and analysts link its movement to the unresolved legal situation.
Edo Farina, a prominent member of the XRP community, recently predicted that XRP will experience substantial gains once the legal proceedings have been ultimately settled. Farina noted in an X post that the XRP price could exceed $10 in the short term after the SEC lawsuit ends.
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Currently, XRP maintains a value of $3.07 according to on-chain data, representing a 1.01% decrease in the last 24 hours. For XRP to achieve the $10 mark, it would require a 220% surge from its current price.
Historical price data indicates that such market gains may be achievable. From November 5 to December 3, 2024, XRP increased by 480% after Donald Trump won the presidential election. Analysts predict XRP will achieve a similar price appreciation after settling the ongoing legal dispute.
Ongoing Legal Proceedings and Settlement Talks
Despite the ruling in August, the SEC filed a notice of appeal in October, signaling its intention to challenge the court’s decision. The agency has since submitted its opening appeals brief, extending the litigation further.
In response, Ripple has shown interest in filing a cross-appeal, suggesting that the case could continue for an extended period before reaching a final resolution.
This prolonged legal battle has created a cautious atmosphere among investors, with many hesitant to make significant moves in the market until a clear outcome is reached.
Analysts believe an official announcement confirming the lawsuit’s conclusion could trigger a rapid market response, potentially driving XRP to new highs. However, without a definitive timeline, the short-term price movement remains uncertain.
Conclusion
The SEC vs. Ripple lawsuit remains a pivotal factor in XRP’s market performance, and while speculation about a price surge continues, the case’s unresolved status has introduced uncertainty among investors. If a final resolution is reached soon, XRP could experience substantial gains.
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