As a seasoned researcher and analyst with over two decades of experience in the financial markets, I have learned to navigate through the stormy seas of regulatory battles and market volatility alike. The ongoing saga between Ripple Labs and the SEC has been a rollercoaster ride, to say the least.
Initially in August, the XRP community received encouraging news as a court ordered Ripple Labs to pay a $125 million penalty to the U.S. Securities and Exchange Commission (SEC) due to selling unregistered securities. However, the SEC has expressed dissatisfaction with this verdict, leading to an appeal of the ruling. Consequently, the deadline for resolving this 4-year dispute has been delayed, but the outcome might still be very favorable for XRP’s price if the appeal is unsuccessful.
The XRP Crash Before The Surge
As the SEC and Ripple engage in legal disputes, an anonymous cryptocurrency expert on the TradingView platform, known as AnalysisParalysis, has expressed their prediction for XRP‘s price trend. According to this analyst, they anticipate that the altcoin might initially experience a drop due to the potential SEC appeal, followed by a rally.
The analyst anticipates that the SEC appeal could be made by October 6, 2024, and during this period, they predict that the price of XRP may face difficulties. They further suggest that this event might trigger a fall in XRP’s value right before it is poised for a significant upward trend, stating “I think this will serve as the catalyst this time, causing XRP to plummet just on the brink of its anticipated huge surge.
Anticipated drop: The preliminary dip should exceed 30%, potentially dropping the cost down to $0.33. But after that point, a series of explosive price increases are predicted for XRP as it enters an upward trend. Subsequently, this cryptocurrency is expected to surpass the $1 effortlessly and continue its journey towards fresh record highs along the way.
According to crypto analysis, the potential peak for XRP could reach around $8.80. This would represent a significant increase of approximately 2,566% over the projected low of $0.33 following the price downturn. The analyst predicts that this new all-time high might be achieved somewhere within the summer months of 2025, roughly between June and September.
The State Of The Ripple Vs. SEC Lawsuit
At present, the dispute between Ripple and the Securities and Exchange Commission (SEC) continues intensely, with the SEC having appealed the court’s ruling that XRP token sales through secondary programmatic methods do not constitute a securities offering. While the final decision remains uncertain, securities attorney Marc Fagel has proposed several potential outcomes.
On an X (formerly Twitter) post, Fagel stated;
The Court of Appeals might decide that the lower court made an error in classifying XRP as not being a security, and if it is deemed a security, then the decision on programmatic sales would be overturned. However, they could also reverse the programmatic sales ruling without explicitly addressing whether or not XRP qualifies as a security (which seems more probable).
As an analyst, I can say that regardless of how this legal dispute between the crypto firm and the regulator unfolds, there seems to be a general agreement that a resolution would likely benefit the XRP market. Predictions post-resolution have varied, with some experts suggesting a potential price floor of $1, while others are more optimistic, forecasting prices as high as $100.
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2024-09-13 14:46