- XRP’s lawsuit with the Securities and Exchange Commission continues to rage since 2020. Apparently, the SEC is accusing XRP of trading illegal securities against vulnerable users.
- However, XRP maintained a strict stance after heading to court. But they witnessed a big break after the judge made a partial ruling. The judge declared XRP as not a security.
- But this has led to questions about XRP’s price trajectory. How high will XRP go after the SEC lawsuit?
In 2020, the Securities and Exchange Commission hit Ripple with many charges regarding their native token. This caused an uprising in the crypto industry, with many supporting Ripple and others taking preventive measures. Crypto exchanges like Coinbase immediately delisted XRP from its exchange. Since then, the case continues to drag on for quite a long time. It is close to 3 years, and there’s no final ruling. But in July 2023, the judge said XRP wasn’t a security. Amidst the joy, questions of how high XRP will go after the lawsuit continues to echo.
XRP receives Partial Ruling Court
July 13th was a memorable day in the crypto industry after XRP got a partial ruling in court. However, this ruling helped establish a lot of things regarding the case. Even better, it helped Ripple to know its stand in the case.
The District Court for the Southern District of New York said XRP wasn’t a security. This meant a lot of things. First, XRP sales on the crypto exchange don’t mean it is a security. Secondly, XRP sales by Ripple’s executives don’t mean it is a security. And Finally, XRP distribution to charities and blockchain developers doesn’t mean it is a security.
Ripple Continues Making Plans After Partial Ruling
Immediately after the ruling, XRP went into action and started making plans. Recently, Ripple executives said they are confident banks will start integrating XRP into their payment systems.
Perhaps the most important highlight is Ripple’s expansion to other parts of the world. Apparently, Ripple doesn’t feel safe in the United States anymore. Their major expansion base is the UK and Europe. The crypto project is already applying for licenses in locations like the United Kingdom and Ireland. Despite their expansion, major attention goes to the price of XRP when the lawsuit is over.
How High Will XRP Go After Lawsuit?
XRP’s price has become the main attraction of many crypto investors and enthusiasts. The most common question is how high XRP will go after the lawsuit. XRP’s price increase will depend on many times. However, one of them is how the final ruling turns out.
Assuming XRP gets most of the winnings in court, the price will likely get very high. On the other hand, assuming they don’t get a favorable ruling, it might even break the crypto project.
Wrapping up, XRP has done quite well since their partial ruling in the court. The ruling declared XRP as a non-security asset. Since this ruling, Ripple has continued to make massive plans. And assuming they get a favorable final ruling, it will send the price of XRP token flying.
