What Could Happen to the XRP Price if Ripple Wins the Lawsuit Against the SEC?
Over the past two and a half years, there has been an ongoing lawsuit between Ripple, the company behind the XRP token, and the Securities and Exchange Commission (SEC). The SEC alleges that Ripple has been selling XRP tokens as securities without the proper licenses. With the end of the lawsuit potentially on the horizon, speculation about the outcome and its potential impact on the XRP price is rampant.
Is XRP Heading for a $10 Surge?
In an interview with FXStreet, hedge fund manager Thomas Kralow suggests that the recent surge in interest in XRP within the crypto community may result in a significant price increase over the next three to four months. Kralow even mentions the possibility of prices reaching between ten and twenty dollars.
Recent reports have highlighted Ripple’s popularity on social media, and XRP’s status as the most traded coin on the Dutch Bitvavo exchange. However, Kralow emphasizes that a potential substantial price increase hinges on two factors. Firstly, a Ripple victory in the lawsuit against the SEC or a settlement that concludes XRP is not an asset. Secondly, he mentions the possibility of an initial public offering (IPO) by Ripple. If Ripple goes public as planned upon resolution of the lawsuit, it could act as a catalyst for a surge in the XRP price.
The Current State of the SEC Lawsuit
While the lawsuit is approaching its conclusion, the exact timeline remains uncertain. Recent news in the Ripple community revealed that the long-awaited Hinman documents had finally been released after an eighteen-month wait. These documents reveal that the Department of Commerce and Markets responded favorably to Hinman’s previous statements, where he declared that Ethereum (ETH) and Bitcoin (BTC) are not securities. The department also confirmed that this stance aligns with American expectations from the SEC.