SEC vs. XRP: What Investors Need to Know – CryptoNewsTo

SEC vs. XRP: What Investors Need to Know


The XRP market is slipping as attributes such as network-related fundamentals, global crypto global economics, and price movements deter bulls from going non-linear. Just after a rally from $0.33 to around $0.44 in January, the XRP price has since nullified the dramatic rise, plunging to $0.38 today. Nonetheless, a breakout cannot be explicitly ruled out, as the asset could blow from the multi-year convergence. This article is all about the XRP price prediction and what investors need to know. Let’s take a look at it in more detail.

How has the XRP price moved in the last few days?

SEC vs. XRP

SEC vs. XRP: XRP/USD Weekly chart showing the price – GoCharting

The XRP price, like almost all other cryptocurrencies, could already see a substantial increase in 2023. In January, it increased from $0.34 to $0.42. This sharp rise was followed by a modest price consolidation in the cryptocurrency market. The XRP coin has also decreased in worth to $0.38.

However, in the last one to two days, the market and thus the XRP price has risen again. This increased by a few percent and is now almost 0.38 dollars.

For more than two years, cryptocurrency investors have been closely following Ripple’s legal battle with the US Securities and Exchange Commission. It is becoming increasingly difficult to predict where the legal dispute will lead. In 2022, there were several indications that Ripple might be acquitted.

The bankruptcy of FTX has shifted the tide slightly. As a result, the FTX token was classified as a security, allowing FTX and founder Sam Bankman-Fried to face legal action. This classification could set a precedent for many altcoins to be classified as securities in the United States in the future. This would primarily affect the XRP cryptocurrency.

Furthermore, in recent weeks, the SEC has been adamant about punishing crypto companies that violate regulations. Coinbase was fined for its staking services, and stablecoin operator Paxos was fined for abandoning BUSD.

exchange comparison

Could the XRP coin become worthless soon?

During the 2017/2018 bull market, the XRP coin was at its peak. At the time, the coin had risen to second place in terms of market capitalization, trailing only Bitcoin, and was worth more than $5 at times. Many investors believe that the XRP price will return to this level during the next bull market.

During the previous bull market, the legal dispute prevented this, among other things. If Ripple prevails in the dispute, the XRP price could skyrocket once more. However, if the Ripple founders were found guilty, investor confidence would plummet and the XRP coin would drop like a stone.

SEC vs. XRP: What Investors Need to Know