Ripple Labs is a blockchain developer and the creator of the XRP token. The SEC accused Ripple of selling XRP in an unregistered security offering. The outcome of the U.S. regulator's court case against Ripple might still have far-reaching consequences for the cryptocurrency industry.
On Thursday, a U.S. judge ruled that XRP token purchases via exchanges were not securities transactions. The SEC sued Ripple, the company behind the XRP token, in 2020, alleging that the company broke securities laws.
In 2020, the SEC filed a lawsuit against Ripple Labs, alleging that it conducted an unregistered securities offering through the sale of its XRP tokens worth $1.3 billion.
This downtrend mainly resulted from SEC including Ripple (XRP) in its lawsuit as a security being traded on exchanges. However, on July 13, Ripple (XRP) won the SEC case. Immediately after the news, Ripple (XRP) saw a surge above its yearly high of $0.54 on March 25, 2023.
The SEC's key claim is that XRP is not a currency, but a security, and therefore subject to strict securities laws. Ripple has argued that XRP is a virtual currency, not an investment contract.
Although XRP is the TOP-10 largest cryptocurrency by market cap, it is pretty tricky (mainly for US residents) and risky to buy it. The reason: lawsuit with the Securities and Exchange Commission (SEC) against Ripple Labs, the company behind XRP.
It is highly unlikely for XRP to reach a price of $100 due to several factors, including market cap limitations, supply and demand, and other considerations. As of now, XRP has a significant circulating supply, which would require an extremely high market capitalization for it to reach such a price.
XRP broke a long-term bearish trendline in August 2022 and now created a higher high. With no end in sight for the Ripple vs SEC case, we predict XRP could revisit lows of $0.3245 by the end of 2023. Provided Ripple wins its case against the SEC, our XRP forecast predicts a price of $3.50 by the end of 2025.
Can Ripple (XRP) Hit $100 or $1000? It is unlikely for Ripple to hit $100, according to TU analysts. And it's even more unlikely for the token to reach $1,000. This is because for XRP to reach $1,000 per coin, its market cap would have to reach at least $100 trillion, which we're very unlikely to see any time soon.
Will Ripple recover? Based on various predictions, XRP will be bullish in its long-term run. Most likely, the average price of XRP will reach $1.5 in 2025.
At the time of the lawsuit, Ripple was the most well-known and significant defendant the SEC had sued over cryptocurrency sales. Most large U.S. crypto exchanges delisted XRP after the SEC alleged it was an illegally sold security.
However, if Ripple loses all appeals, the SEC is likely to collect the $1.3 billion (the amount that the regulator alleges that Ripple earned from the unregistered securities sale) and offer XRP holders an option to sell their holdings.
July 13 (Reuters) - Ripple Labs Inc did not violate federal securities law by selling its XRP token on public exchanges, a U.S. judge ruled on Thursday, a landmark legal victory for the cryptocurrency industry that sent the value of XRP soaring.
While Bitcoin continues to become a medium of exchange and a store of value, XRP aims to settle cross-border transactions cost-effectively and quickly.
Ripple gets partial win against SEC as XRP deemed not a security in some cases. Ripple got a partial win against the U.S. Securities and Exchange Commission in court as a judge ruled that XRP is not a security in some cases.
XRP Can't Be Confiscated by Government, Says Ex-Ripple Director, Here Are 3 Reasons Why.
XRP To Hit $50 Amid Legal Woes? XRP faces a significant hurdle to reach the projected price of $50, as it would require a remarkable rally of approximately 9,600%.
To reach $500, XRP's market cap will be worth $26 trillion, which would be higher than the GDP of America today. It would be incredibly impractical for XRP to reach this level.
Based on current projections, most experts have agreed that Ripple's price can go up to the $250-$300 range in ten years. Ripple Coin News says that Ripple price could rise to $30 in 10 years.
To reach $20, XRP would need to increase in price by 29x from its current price, not an entirely unrealistic target for an asset that has a market cap of $37 billion. At $20, XRP's market cap would be worth $1 trillion. Though this is a very large valuation, it's certainly not impossible.
Despite many challenges posed by adopting blockchain technology for international banking, XRP holds a strong position in this industry. There are many use cases for the blockchain, and it is used by many banks due to its operational benefits.
Crypto hedge fund manager, Thomas Kralow, previously predicted that XRP would hit $30 a coin in 2023. This prediction fails to consider the mathematical improbability of XRP reaching this price, as the circulating supply of 100 billion coins means the project's market cap would be $3 trillion dollars.
XRP was designed for $10,000.. The evidence is in its design.
The XRP prices rallied to an all-time high (ATH) of $3.84 in January 2018. The performance of XRP went slow after creating a new ATH but their number of holders increased. As per our analysis, the prices of XRP will continue to grow in the next 10 years, surpassing the $10 mark by the end of this decade.