Earlier in August, the XRP community got some positive news when the court ruled that Ripple Labs should pay a $125 million fine to the United States Securities and Exchange Commission (SEC) for selling unregistered securities. However, the regulator has been unhappy with this decision, leading to an appeal of the court’s decision. Naturally, the appeal has pushed back the finish line for the 4-year battle, but the end could still be very bullish for the XRP price.
The XRP Crash Before The Surge
While the SEC and Ripple continue to battle it out in court, a pseudonymous crypto analyst on the TradingView website who goes by the name AnalysisParalysis has shared their expectation for the XRP price. In this case, the crypto analyst expects that the altcoin’s price will rally. But not without first suffering a decline due to the SEC appeal.
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According to the analyst, the SEC appeal is expected to come sometime before October 6, 2024, during which time they expect the XRP price to struggle. “I believe this will be the catalyst this time around that causes XRP to crash just before its going to go on a massive upward movement,” the analyst said.
The initial crash here is expected to cross 30%, pushing the price as low as $0.33. However, after this, fireworks are expected to follow as the XRP price begins its uptrend. From here, the altcoin is expected to clear the $1 easily, moving toward new all-time highs in the process.
As for how high the XRP price could go, the crypto analyst believes that it could rise as high as $8.80. If this happens, it would mean a 2,566% increase from the $0.33 lows expected after the price crash. The analyst speculates that the timeframe for the altcoin’s price to touch this new all-time high is sometime in summer 2025. So, somewhere between June and September 2025.
The State Of The Ripple Vs. SEC Lawsuit
Currently, the battle between Ripple and the SEC rages on as the regulator has appealed the court’s decision that secondary programmatic sales of XRP tokens do not count as a securities offering. The outcome of the appeal is still heavily debated but securities lawyer Marc Fagel has offered various possibilities.
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On an X (formerly Twitter) post, Fagel stated;
“The Court of Appeals could conclude the district court erred in stating that XRP is not itself a security; and if it is, then the holding on programmatic sales gets reversed. But they could also reverse the programmatic sales without addressing the question of XRP being a security per se (as seems more likely).”
However, way the appeal does play out, the consensus remains that a final end to the battle between the crypto firm and the regulator would be good for the XRP price. Projections following the outcome have ranged from a price tag of $1 to as high as $100.
Featured image created with Dall.E, chart from Tradingview.com
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Scott Matherson
https://www.newsbtc.com/analysis/xrp/xrp-price-sec-appeal-analyst/
2024-09-13 11:30:38
