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Analysis

Could XRP Move Towards $1 Expectation Ahead of This Week’s Major Lawsuit?

June 12, 2023 - Around 2 mins mins to read

Key Points:

  • XRP is well-positioned to survive the impact of the SEC and Binance and enjoy significant increases in the not-too-distant future.
  • Tuesday will be a watershed moment for Ripple Labs and the other defendants in the US SEC lawsuit.
  • The developments in the Ripple-SEC case have mostly been highly good for Ripple, suggesting that it may experience a favorable outcome.
The crypto world may expect a wild trip on the market charts this week, as much-anticipated vital papers in the Ripple (XRP) case will be disclosed amid the newly filed legal disagreement between the United States Securities and Exchange Commission and Binance.
Could XRP Move Towards $1 Expectation Ahead of This Week's Major Lawsuit?

Tuesday will be a watershed moment for Ripple Labs and the other defendants in the US SEC lawsuit. In his notorious statement, then SEC Director of Corporate Finance Bill Hinman said that Ethereum (ETH) was not secure. The confidential papers are likely to reveal what internal conversation prompted the executive to propose the nature of Ethereum.

The XRP price has climbed by 1% in the last 24 hours, returning to $0.52 following a weekend in which the departure of Binance’s market makers led altcoin prices to drop by more than 25%.

Could XRP Move Towards $1 Expectation Ahead of This Week's Major Lawsuit?
XRP price chart. Source: TradingView

XRP exhibited strength in line with predictions that the March litigation between Ripple and the SEC would be resolved by June at the latest, and Ripple’s odds of winning were strong, but bearish prospects persisted after April and dropped below $0.50.

XRP has already increased by 3.97% in the last week, and the cryptocurrency has increased by more than 50% since the beginning of the year.

Although the SEC’s efforts against Binance and Coinbase have caused the market to be volatile, XRP is in a better position than most other cryptocurrencies since Ripple’s own case with the SEC is set to conclude in the coming months.

Could XRP Move Towards $1 Expectation Ahead of This Week's Major Lawsuit?

And if this lawsuit goes well for Ripple, as many analysts believe it will, XRP might skyrocket in the coming weeks.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Harold

Coincu News

Bill Hinman

Ripple

SEC

XRP

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
Analysis

Could XRP Move Towards $1 Expectation Ahead of This Week’s Major Lawsuit?

Key Points:

  • XRP is well-positioned to survive the impact of the SEC and Binance and enjoy significant increases in the not-too-distant future.
  • Tuesday will be a watershed moment for Ripple Labs and the other defendants in the US SEC lawsuit.
  • The developments in the Ripple-SEC case have mostly been highly good for Ripple, suggesting that it may experience a favorable outcome.
The crypto world may expect a wild trip on the market charts this week, as much-anticipated vital papers in the Ripple (XRP) case will be disclosed amid the newly filed legal disagreement between the United States Securities and Exchange Commission and Binance.
Could XRP Move Towards $1 Expectation Ahead of This Week's Major Lawsuit?

Tuesday will be a watershed moment for Ripple Labs and the other defendants in the US SEC lawsuit. In his notorious statement, then SEC Director of Corporate Finance Bill Hinman said that Ethereum (ETH) was not secure. The confidential papers are likely to reveal what internal conversation prompted the executive to propose the nature of Ethereum.

The XRP price has climbed by 1% in the last 24 hours, returning to $0.52 following a weekend in which the departure of Binance’s market makers led altcoin prices to drop by more than 25%.

Could XRP Move Towards $1 Expectation Ahead of This Week's Major Lawsuit?
XRP price chart. Source: TradingView

XRP exhibited strength in line with predictions that the March litigation between Ripple and the SEC would be resolved by June at the latest, and Ripple’s odds of winning were strong, but bearish prospects persisted after April and dropped below $0.50.

XRP has already increased by 3.97% in the last week, and the cryptocurrency has increased by more than 50% since the beginning of the year.

Although the SEC’s efforts against Binance and Coinbase have caused the market to be volatile, XRP is in a better position than most other cryptocurrencies since Ripple’s own case with the SEC is set to conclude in the coming months.

Could XRP Move Towards $1 Expectation Ahead of This Week's Major Lawsuit?

And if this lawsuit goes well for Ripple, as many analysts believe it will, XRP might skyrocket in the coming weeks.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Harold

Coincu News

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