• Ripple is currently involved in a legal battle with the United States Securities and Exchange Commission over the status of XRP.
• Speculation is building as to what the future price of XRP will be once the lawsuit is settled.
• Recent advances in the XRPLedger and the decentralized ecosystem are expected to further add to XRP price growth.
As the Ripple-SEC lawsuit nears its conclusion, cryptocurrency traders and enthusiasts alike are eagerly awaiting the outcome as to what the future holds for the price of XRP, Ripple’s cryptocurrency. The Brad Garlinghouse-led blockchain payments firm is currently embroiled in a legal battle with the United States Securities and Exchange Commission (SEC) over the status of XRP.
The SEC has long held that XRP is a security, while Ripple has always argued that it is a payment utility. Ripple has sought to settle the lawsuit out of court, but the SEC has been unwilling to declare that XRP is not a security. This has left Ripple with little choice but to fight the SEC in court. Recent victories for the SEC, such as the LBRY case, have given the regulator more confidence that it can win the battle against Ripple.
With the outcome of the lawsuit in limbo, speculation has been mounting as to what the future price of XRP would be once the case is settled. Optimists are convinced that the price of XRP could rise to the thousands once the lawsuit is settled. They believe that the advances in the XRPLedger and the growth of the decentralized ecosystem will add to XRP price growth.
On the other hand, there are those that are not as optimistic and believe that the price of XRP could remain stagnant even after the resolution of the case. They point to the fact that the bearish pulldowns for XRP have been caused by the lawsuit and that any settlement without legally defining the status of the XRP coin could lead to another lawsuit in the future.
No matter what the outcome of the Ripple-SEC lawsuit may be, one thing is for certain: the price of XRP will be greatly impacted. With the current price of XRP at $0.4219, up by 8.89 percent over the trailing 7-day period, it remains to be seen what the future holds for XRP.