The long-running legal battle between the United States Securities and Exchange Commission (SEC) Ripple finally concluded with the following: Judge Analisa Torres’ ruling On August 7. With the lawsuit over, cryptocurrency analyst CrediBULL Crypto predicts that the price of XRP could soon surpass its all-time high (ATH).
XRP Price Headed for ‘Massive Leap’ to New All-Time High
Credit Bull Crypto Mentioned in X (formerly Twitter) mail The stage is set for an “inevitable massive XRP attack.” The analyst added that it is a matter of when, not if, XRP will reach its all-time high. Highest level this year Bitcoin is now priced at $3.84, which means the cryptocurrency could rise above this price level soon.
Related reading
Before now, cryptocurrency analysts like RLinda Spotlight She said that the conclusion of the case between the US Securities and Exchange Commission and Ripple is one of the catalysts that could lead to a massive surge in the price of XRP. She stressed that this event would give XRP a “second life” to achieve a successful breakout above critical resistance levels.
Cryptocurrency Analyst JackTheRippler And expect XRP will surge to $100 once the case between the SEC and Rippled is resolved, cryptocurrency analyst Common Sense Crypto noted. pointed out While the analyst explained why XRP hit $100, he noted that the conclusion of the case would lead to the launch of a Spot XRP ETF, which could ignite such a massive rally for XRP.
This lawsuit began in December 2020 and is: Believes This appears to have hampered XRP’s growth, especially during its 2021 rally when the cryptocurrency failed to post significant gains or even come close to breaking its all-time highs. However, that looks set to change as Judge Torres’ ruling has ended the lawsuit, at least for now, with the possibility of an appeal.
Judge Torres imposed a $125 million fine on Ripple for violating securities laws and issued an injunction to prevent future violations. However, the $125 million is significantly less than the nearly $2 billion fine the company was fined. The Securities and Exchange Commission initially proposedThe court also ruled that the SEC cannot block Ripple’s on-demand liquidity (ODL) sales.
XRP is just getting started
Mikybull Cryptocurrency Analyst He stated that the current XRP rally following the court ruling has just begun while urging market participants to prepare for the “real fun.” Whatever happens, XRP holders Hopefully, the excitement around the end of the lawsuit will help send XRP above $1 in the short term.
Related reading
Such a move would undoubtedly boost the confidence of these investors that XRP can reach the expected heights that these analysts say it will reach. It is worth noting that XRP failed to break the $1 resistance level when Judge Torres announced Last year, cryptocurrency was not a security. As such, XRP Price Action It will be one to watch.
At the time of writing, XRP is trading at around $0.60, up over 18% in the last 24 hours, according to Data From CoinMarketCap.
Featured image created using Dall.E, chart from Tradingview.com