Ripple SEC Case: XRP Rises On Settlement Hopes, What’s Next?
Highlights
- XRP price may reach $4.8 if it closes above $3, says Egrag Crypto.
- Growing speculations of Ripple SEC case end sparks anticipations of XRP's bullish rally.
- Jeremy Hogan says that the option for the settlement is to bring back the case to the trial court.
The prolonged Ripple SEC case has reignited attention, with experts weighing in on its potential conclusion. Amid growing speculation of a potential settlement in the Ripple SEC lawsuit, the XRP price has seen a notable growth.
Notably, lawyers and market experts express different opinions on the potential outcomes of the Ripple SEC lawsuit. Despite the uncertainty, the impending conclusion of the case, expected before September, has sparked a significant surge in XRP’s price, hinting at a substantial uptrend on the horizon.
Ripple SEC Case Nears Conclusion: XRP Targets $4.8
Although the Ripple SEC case’s outcome remains unclear, a wave of optimism is emerging as a resolution approaches. This has sparked excitement regarding XRP’s potential rally, with its price targeting $4.8 and beyond.
In an X post, market expert Egrag Crypto predicted that the XRP price could hit $4.8 if it closes above $3.00. The analyst also identified $2.65 as the first critical closure. Forecasting XRP’s bullish continuation, Egrag Crypto stated, “We can’t keep tapping the lower boundaries anymore.”
Is Ripple SEC Lawsuit’s Conclusion Just Around the Corner?
Recently, Fox Business journalist Eleanor Terrett provided an interesting Ripple SEC case update, commenting that the conclusion is nearer. According to her, the main reason for the settlement delay is Ripple’s legal team negotiating better terms regarding the $125 million fine and permanent injunction imposed by Judge Analisa Torres. She added that both parties are wrapping up the lawsuit and could reach a settlement soon.
In response to Terrett’s assertions, lawyer Jeremy Hogan stated that the Ripple vs SEC case could end soon only if both parties reach a private settlement. This means that Ripple and SEC should agree on terms that are different from the court’s original judgment.
For this to happen, the SEC would need to compromise on the injunction, possibly by allowing Ripple to sell XRP to institutional investors in a way that doesn’t openly defy the court’s order. Further commenting on the matter, Hogan added,
A settlement agreement 100% keeps the terms within the parties’ control (that is what every mediator tells you ten times every mediation). An attempt to ratify the judgment back at the trial court runs into problems that I’ve discussed before, namely that the Judge could say “no”.
Ripple Case Conclusion: Lawyer Reveals Ideal Scenario
According to Jeremy Hogan, the best possible option for the Ripple SEC case settlement is to bring back the case to the trial court. With such a scenario, the judge could modify the original judgment, making it more favorable for Ripple.
On the other hand, if the judge refuses to make amendments to the judgment, Ripple could still negotiate a private settlement with the SEC. This guarantees a better deal for Ripple, even if the court does not agree.
XRP Price Awaits Explosion: Key Things To Know
As of press time, XRP is trading at $2.42, marking a notable uptick of 4.95% over the past 24 hours. The token has experienced a significant surge of 4.06% despite a monthly decline of 0.98%. XRP’s 24-hour trading volume has plummeted by 10.74%, showcasing the changing trader sentiment.
However, experts remain optimistic about XRP’s future trends despite the uncertainty surrounding the Ripple SEC case. Analyst Crypto General shares an ambitious forecast for XRP, with the price targeting $9. According to XRP price prediction, the token could reach even $1000 after its inclusion in the US strategic crypto reserve.
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