- The Ripple community of holders and investors are awaiting Judge Sarah Netburn's verdict on the SEC vs Ripple case.
- A source close to the SEC believes that the regulator is less likely to achieve its desired outcome.
- Analysts have evaluated the XRP price trend and predicted an uptrend.
The XRP community of investors believe that the defendant is closer to a win in the SEC vs Ripple lawsuit. The altcoin's price has climbed in response to the bullish narrative, while investors await a verdict by Judge Sarah Netburn.
Payment giant closer to win in the SEC vs Ripple case
The XRP community is awaiting a verdict from Judge Sarah Netburn on the SEC vs Ripple lawsuit. Though there is no tentative timeframe for the ruling, proponents believe the case has drawn to a decisive conclusion and the payments giant could win.
John Deaton, XRP holders' attorney, believes that there may be no settlement in the SEC vs Ripple case within the next month. There could be a delay in a ruling; however, attorney Jeremy Hogan argues that early settlement cannot be ruled out.
Hester Peirce, the SEC Commissioner, believes that the regulator may fail to achieve a favorable outcome. This could translate into a win for payment giant Ripple.
XRP buyers are accumulating the altcoin, moving coins off exchanges to private wallets. A whale wallet recently moved $55 million in XRP to an unknown wallet. Despite a slow start in March 2022, the altcoin quickly recovered from crypto bloodshed and posted 5% gains overnight.
The SEC Commissioner's statement fueled investors' optimism. As a higher volume of XRP moves through corridors, it fuels the utility and adoption of the altcoin. Although there is a delay in settlement of the SEC's lawsuit against XRP, there has been a surge in the altcoin's utility and relevance among traders.
Analysts have evaluated the XRP price trend and predicted that the upside is capped at $0.80 as traders await the SEC vs Ripple settlement. FXStreet analysts have noted that Ripple confirmed a bearish Ichimoku breakout on Sunday; however, there was no follow-through as volume participation in altcoins across exchanges dipped.
Analysts at the YouTube channel Crypto Serpent believe that Ripple price could re-test $0.80 and break above the level before further consolidation.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
VanEck sees Bitcoin reaching $61 trillion market cap, Marathon buys $100 million BTC
Bitcoin declined by 1% on Thursday following asset manager VanEck's forecast that the top digital asset will reach a $61 trillion market capitalization by 2050.
Ethereum Classic price sets for a rally following retest of key support
ETC edges higher by 2.3% and trades around $22.60 at the time of writing on Friday after testing a key support area the day before. On-chain data showing increased account growth suggests a bullish move ahead. Ethereum Classic price faced rejection by the daily resistance level of $25.13 earlier this week.
Celebrity meme coins lose their shine
Celebrity meme coins report by Jupiter Slorg on Thursday shows that these tokens have been in deep waters since early July after experiencing heavy growth in June. In a recent analysis, Jupiter Slorg revealed that celebrity meme coins are down by an average of 94% from their all-time highs.
Ripple gains 5%, Mark Cuban says Kamala Harris’ nomination could affect SEC lawsuit
Ripple (XRP) made a comeback above key psychological resistance early on Wednesday. Crypto traders are optimistic after the Ethereum Exchange Traded Fund (ETF) launch. Entrepreneur and investor Mark Cuban recently shared his comments on how Kamala Harris’ nomination to the Presidential elections could influence crypto regulation.
Bitcoin: Will BTC manage to recover from recent market turmoil?
Bitcoin recovers to $67,000 on Friday after finding support around $63,500 a day before. Still, BTC losses over 1.50% on the week as Mt. Gox persists in transferring Bitcoin to exchanges.