XRP price surges as investors turn bullish on potential SEC vs Ripple settlement


  • 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.

Join Telegram

Recommended content


Recommended Content

Editors’ Picks

NEAR protocol could see a rally as it sets out to launch an AI smart contract builder

NEAR protocol could see a rally as it sets out to launch an AI smart contract builder

Near protocol (NEAR) co-founder Illia Polosukhin stated in a social media post on Wednesday plans for NEAR to launch NEAR AI, a user-owned AI system that will allow users to build web3 apps without code on an end-to-end network.

More Near News

US House of Reps passes bill aiming to regulate cryptocurrencies

US House of Reps passes bill aiming to regulate cryptocurrencies

FIT21 bill received massive support as the House of Representatives voted to pass the bill on Wednesday. The White House and US Securities & Exchange Commission (SEC) Chair, Gary Gensler, expressed concerns about the potential impact of the FIT21 bill on investor protections in a statement.

More Cryptocurrencies News

Ethereum bulls await ETF approval as BlackRock, Bitwise, Grayscale submit amended ETH ETF filings

Ethereum bulls await ETF approval as BlackRock, Bitwise, Grayscale submit amended ETH ETF filings

Ethereum (ETH) is trading sideways on Wednesday as BlackRock, Bitwise and Grayscale submitted their amended 19b-4s filings to the Securities & Exchange Commission (SEC). The agency has also begun conversations with issuers on S-1s applications.

More Ethereum News

As Ethereum spot ETF approval nears, these altcoins could explode

As Ethereum spot ETF approval nears, these altcoins could explode

It is not surprising that altcoins related to Bitcoin saw a major rally post-Bitcoin spot ETF approval. Likewise, tokens closely related to Ether could ride the ETF approval wave. Ethereum Classic, Pepe, Floki and other DeFi tokens could gain momentum as the ETH ETF approval deadline nears. 

More Cryptocurrencies News

Bitcoin: Is BTC out of the woods? Premium

Bitcoin: Is BTC out of the woods?

Bitcoin price shows signs of continuing its uptrend, providing a buying opportunity between $64,580 to $63,095. On-chain metrics forecast a bullish outlook for BTC ahead. If BTC clears $70,000, the chances of resuming the uptrend would skyrocket.

Read full analysis

BTC

ETH

XRP