Ripple has been making headlines after headlines regarding its performance and reputation. It continues its lawsuit battle with the Securities and Exchange Commission, which is looking pretty bright for XRP. With its current standing, brokers are looking at a rally of 150% once a settlement has been reached.
As of writing, Ripple is now standing between $0.70 to $0.75. Because of the noise that it’s making with SEC, a lot of people have started to keep an eye on this coin. Many are watchers, but once those watchers turn into buyers, a bullish trend could be well underway, with XRP reaching almost $1.20. It is also theorized that it could reach $1.80 once a settlement with SEC is made.
Ripple’s things are looking up as people believe that it might win the lawsuit. When this happens, SEC could also risk its reputation due to the lawsuit being of no substance. Even with the litigation of SEC’s hard push, Ripple remained at a cap of $40 billion since last year.
Zakharova from FXOpen said that it is not yet over since the SEC is still looking for ways to prolong matters. To resolve this issue, the best route to take is to have a settlement, which is not likely to happen anytime soon.
The lawsuit between SEC and Ripple started when Coinbase removed XRP from its list of assets. Following that scenario, Larson and Garlinghouse sent notes to New York’s Southern District Judge Sarah Netburn about dismissing the lawsuit since it lacked due process and fair notice.
Despite no settlement being reached yet, Ripple is looking forward to seeing the resolution of this case with a positive outlook despite the delaying tactics of the SEC. Many people are looking forward to how this case will unfold, and enthusiasts keep their hopes on XRP.