The legal battle between the SEC and Ripple is approaching its final stages. Both sides have presented their final arguments concerning the remedies.
The XRP community is eagerly awaiting a potential agreement between the US Securities and Exchange Commission (SEC) and Ripple Labs. This development, recently highlighted by CryptoGeek on a social media outlet, has created a stir in the cryptocurrency market, leading experts to foresee a notable rise in XRP price to $18.57.
🚨BREAKING: SEC OFFERS SETTLEMENT WITH RIPPLE CEO – $18.57 PER #XRP!! 🚨🚀 pic.twitter.com/ttm9Ksx606
— CryptoGeek (@CryptoGeekNews) May 20, 2024
The prolonged legal confrontation between the SEC and Ripple has overshadowed XRP’s market performance. Even though a 2023 court ruling determined that XRP is not a security, the continuing legal proceedings have introduced a sense of unpredictability among investors. However, reaching a conclusive agreement could trigger a substantial increase in XRP’s price.
In a recent interview with Fox News, Crypto influencer Ben Armstrong pointed out the possibility of exponential growth in XRP’s price once the legal uncertainties are resolved. This perspective is in harmony with CryptoGeek’s forecast that XRP could soar to $18.57.
🚨BREAKING:
— 𝓐𝓶𝓮𝓵𝓲𝓮 (@_Crypto_Barbie) May 19, 2024
Bitboy sources confirm in a Fox News interview that the SEC and Ripple have reached a settlement! #XRP is expected to see a big price increase.
The top DeFi token on the XRPL, CTF token, could rise from 0.97 XRP per token to 374.25 XRP per token.
The CTF token… pic.twitter.com/6Z05BztLdf
XRP Volume Surges 60% amid SEC Settlement
While the current price of XRP sits at $0.5114, a slight dip of 0.61% in the last 24 hours, trading activity paints a different picture. A surge of 63% in 24-hour volume signifies heightened market interest. This suggests XRP’s potential price surge if the settlement materializes and XRP is definitively classified as a non-security.
The potential ramifications of the SEC settlement extend beyond XRP. The CTF Token, a prominent player on the XRP Ledger (XRPL), has also garnered attention. Analysts speculate that the CTF Token could experience a meteoric rise, reaching a projected value of $1937, despite its smaller market share compared to XRP.
This bullish outlook stems from the anticipated growth of the XRPL itself. The platform is poised to handle a staggering $1 trillion in DeFi transactions, solidifying its position as a key player in the evolving decentralized finance landscape. As the sole DeFi token in the XRPL’s top 10, the CTF Token’s performance is being closely monitored by investors seeking to capitalize on the XRPL’s potential.
The Final Countdown
The legal battle between the SEC and Ripple is approaching its final stages. Both sides have presented their final arguments concerning the remedies, and the current day is the last chance to submit any counterarguments regarding the requests to keep certain details private.
The judge is anticipated to make a decision on these requests soon. This decision will determine if certain parts of important documents will be shared with the public, with sensitive information removed, within two weeks.
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