The answer to the query ‘Why is XRP going up?’ may lead you to the SEC vs. Ripple lawsuit. In December 2020, the SEC filed a lawsuit against Ripple, its CEO Brad Garlinghouse, co-founder Chris Larsen, and the $1.3 billion exchange of XRP coins. The agency has alleged that Ripple has unregistered securities. Analisa Torres, a U.S. District Judge, is presiding over the proceeding. The Ripple team has insisted that XRP is not a form of security.
What if the SEC wins against Ripple?
This lawsuit has garnered much attention, and tweets are flooding in from across the world. Many are making predictions and speculating on the XRP forecast. In the 5 days between July 8 and July 12, 2023, the XRP price went through positive fluctuations that ranged from $0.46 to $0.48. The XRP prediction of 2023 suggests that the cryptocurrency can reach a maximum value of $0.98 and a minimum price of $0.40.
Many crypto traders are asking, ‘Will XRP go up?’ Experts are predicting that the price will increase in the future. Additionally, people on Twitter are commenting on the current situation between the SEC and Ripple and drawing attention to the consequences if the SEC wins against Ripple.
The managing partner of Deaton Law Firm and Founder of CryptoLaw, John E. Deaton, wrote on Twitter that if the SEC wins, Ripple will file an appeal, and the current situation will continue for another two to five years. Furthermore, he said that the SEC, rather than the civil claimants, would get the money ($1.3 billion) if Ripple, the network and firm behind XRP, lost all of its appeals within five years.
What if Ripple wins against the SEC?
The lawsuit has people wondering, ‘Is XRP a good investment?’ As of now, the figure seems promising. A crypto critic and former SEC Regional Director, Marc Fagel, said that if Ripple wins, i.e., a decision that the business did not conduct an unregistered securities offering, it will have a tremendous impact.
If Ripple wins, other cryptocurrency issuers will feel more confident, and other courts might use the decision as a precedent in future cases. Additionally, it would lessen the burden on cryptocurrency exchanges like Kraken and Coinbase, which provide digital assets that the SEC claims should be treated as securities and are already under pressure. However, Fagel contended that a verdict in Ripple’s favor would be incorrect.
What are the effects on the XRP price in both scenarios?
The XRP future price for 2023, 2025, and 2030 is increasing with each year. According to the Ripple forecast for 2030, the XRP coin price is predicted to increase. The maximums in 2025 and 2030 are $1.53 and $5.49, while the minimums are $1.06 and $3.81.
The lawsuit started in 2020 when the XRP price was around $0.19. Comparing it to the current average price of $0.47, it is clear that the XRP price has increased over the past few years. Be it a win or a loss, critics suggest that XRP is set to become more valuable in the future.
There has been much stir regarding the SEC vs. Ripple case. Traders, investors, and critics have taken on the mission to predict the XRP future price. Analyzing market data and previous records, the forecast experts predict that the XRP price will increase in the future. However, it is good to remember that a prediction does not confirm the scenario. Attorneys are leaving their remarks on the case and sharing the consequences if either party wins.