The recent judgment by Judge Analisa Torres in the long-running legal battle between the US Securities and Exchange Commission (SEC) and Ripple has prompted a wave of speculation among crypto analysts. One notable prediction comes from CrediBULL Crypto, who believes that the XRP price could soon surpass its all-time high (ATH) now that the lawsuit is behind Ripple. The analyst mentioned on social media that an “inevitable mega run for XRP” is on the horizon, with the possibility of the crypto token surpassing its current ATH of $3.84.
The resolution of the lawsuit between the SEC and Ripple is seen as a significant catalyst for XRP by analysts like RLinda and JackTheRippler. RLinda stated that the conclusion of the case could give XRP a “second life” and lead to a successful breakout above critical resistance levels. JackTheRippler even went as far as predicting that XRP could reach $100 once the legal battle was over. This sentiment was echoed by Common Sense Crypto, who pointed to the potential launch of a Spot XRP ETF as a driver for a parabolic rally for XRP.
The lawsuit, which began in December 2020, has been viewed as a hindrance to XRP’s growth, particularly during the 2021 bull run. However, Judge Torres’ judgment has brought some clarity to the situation, imposing a $125 million penalty on Ripple for violating securities laws and an injunction against future violations. Despite this ruling, the penalty amount is significantly lower than the almost $2 billion fine initially proposed by the SEC. Additionally, the court ruled that the SEC cannot prevent Ripple’s On-Demand Liquidity (ODL) sales.
Following the court’s ruling, crypto analyst Mikybull Crypto believes that XRP’s current rally is just the beginning, urging market participants to prepare for the “real fun.” Many XRP holders are hopeful that the excitement surrounding the lawsuit’s conclusion will help propel XRP above the $1 mark in the short term. Breaking this resistance level would undoubtedly boost investor confidence in XRP’s potential to reach the lofty price targets set by analysts.
The conclusion of the legal battle between the SEC and Ripple has sparked optimism among crypto analysts regarding the future of the XRP price. With predictions of a potential mega run and price targets ranging from $1 to $100, the road ahead for XRP looks promising. However, it remains to be seen how the market will react to these developments and whether XRP can indeed reach the projected heights. Investors and traders alike will be closely watching the price movements of XRP in the coming weeks to gauge the impact of the lawsuit conclusion on its long-term trajectory.
Leave a Reply