XRP Price Prediction:
Ripple’s native token, XRP, may go up in price now that defendants in the important XRP lawsuit, Ripple labs, have filed their redacted response to the SEC’s opposition motion for summary judgement.
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The Ripple lawsuit ruling is good news for the XRP price.
At the time of writing, the price of an XRP token is $0.3938. In the past week, the price of an XRP token has gone up by almost 3%, and in a 24-hour period, $604,860,508 USD is traded. In addition, XRP has gone up by 0.4% in the last 24 hours. At the moment, there are 50,260,446,248 XRP coins in circulation. The maximum number of XRP coins that can be made is 100,000,000,000.
The price of ripple is about 6% lower than when it was at its highest in November and 25% higher than when it was at its lowest this year. Ripple is worth more than $19.5 billion dollars right now. Santiment says that the most used cryptocurrency is the XRP network. In the near future, the price of XRP will go up by a lot. But before the price goes up sharply, it is likely to drop for a short time. Since XRP just broke through the support level at $0.38, the XRP price is currently rising, and buyers are aiming for the key resistance level at $0.41.
Ripple Vs SEC lawsuit Update
After the defendant Ripple labs filed its redacted response to the SEC’s opposition to the Motion for Summary Judgment, there was a little bit of change. According to the report, Ripple said that the SEC hadn’t shown that selling XRP was an offer for an investment contract and, therefore, a security.
Also, the lawyers said that the SEC didn’t show that the Ripple buyers bought a common business, which is what the law requires.
In a recent court case, an analyst said that Ripple has a strong case against the SEC, but it is still too early to say whether or not Ripple will win. Brad Garlinghouse, who is the CEO of Ripple, confirmed with General Counsel. He said that they are working to make the rules for the whole industry clearer.
He did, however, give Team Ripple praise for getting this far. He stressed that the defendants were strong and stood up to the SEC’s attack. In the XRP lawsuit, he will be happy to be on the side that wins.
Source: Google Trend