Before discussing Ripple XRP Price Predictions, it is important to show how it is performing lately. The price of Ripple (XRP) has barely moved today in the middle of a stagnant market, with its current level of $0.336641 representing a 0.5% drop in the last hour and a 0% movement in one day. At the same time, it has fallen by a very modest 0.3% in one week, increased by 2.5% in a two-week period, and decreased by 10% in the last 30 days.
These moves are far from impressive for a cryptocurrency that is the seventh largest in terms of market capitalization, but it turns out that the cryptocurrency is also in difficult macroeconomic conditions right now.
Global stock markets have fallen in the face of negative inflation outcomes, while Ripple continues to fight a nearly two-year legal battle with the U.S. Securities and Exchange Commission, keeping the price of XRP under pressure.
Nevertheless, hopes for a long-awaited end to this legal journey have increased after the presiding U.S. court approved joint schedule proposals regarding the drafting of certain parts of key SEC documents.
If we add to these other positive developments and decisions for Ripple over the past year, it suggests that a positive end to this legal arm wrestling may be near and that XRP could explode as a result.
XRP Barely Moves After Judge Torres’ Verdict
The latest verdict in the Ripple-SEC case was delivered by Judge Torres, who issued several other rulings viewed favorably by members of the Ripple community in the previous months. In this particular case, it simply approved a plan that had been jointly agreed upon by Ripple and the SEC, setting out a schedule for summary judgments on key parts of the case.
Cryptocurrency lawyer Jeremy Hogan said he was pleased that this plan will speed up the resolution of the case, given that it sets a precise timeline for the delivery of documents and important decisions. This shows that both sides now want to go to the end of things, with Judge Torres agreeing with their wishes.
But while this evolution is considered positive in the legal saga, it has not really had a tangible effect on the price of XRP. The latter is still down on most terms, and also remains down 70% over the last 12 months.
Despite the lack of movement, the XRP chart shows that it bottomed out some time ago and is simply waiting for its time until a new rebound. Its Relative Strength Index (RSI) has been below 40 for much of the last week, while its 30-day moving average remains well below the 200-day average.
Of course, XRP has to wait for the overall economic situation to improve before it can make any real gains. But when these improvements happen, and when the case is finally resolved, its defenders expect it to show quite spectacular performances.
Will Ripple Win The Rally?
The big question is whether Ripple will actually get a positive judgment at the end of the legal case. It is ultimately up to the court to decide, but previous evolutions in the case suggest that the Ripple XRP Price Predictions tend to be very positive.
In January of this year, Ripple gained access to important emails from 2018, regarding a speech by the SEC’s William Hinman in which he stated that neither ETH nor BTC was a kind of security. It then obtained another favorable judgment in April, in which the court denied the SEC’s right to withhold some of the aforementioned important emails.
In addition, several legal experts have publicly stated that they expect an arrangement — rather than a ruling against Ripple — to be the most likely outcome. This is in addition to the positive statements of lawyers that are more sympathetic to crypto-currencies, as well as Ripple executives themselves.
Therefore, the future looks bright for Ripple, which plans to go public after the closing of the case. Add to this the end of regulatory pressure and the re-listing of XRP in markets such as Coinbase, which would make the altcoin price rise dramatically.
To that end, it’s worth remembering that XRP was one of the few major cryptocurrencies that did not set a new record in 2021, and still has an ATH dating back to 2018. So, at the very least, the market could expect XRP to climb back up to that ATH – of $3.40 – should Ripple get what it aims for.
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