XRP prices crashed heavily and lost traction when the SEC lawsuit was first announced back in December 2020. Most XRP hodlers feared the worst as the token got delisted from several big exchanges including Coinbase. However, there is today renewed optimism around Ripple in 2023. Is XRP a good investment in 2023? Will XRP price go up in 2023 and the SEC lawsuit gets resolved? Here’s what we know so far.
Why Ripple has a lawsuit with the SEC?
The United States Securities and Exchange Commission (SEC) sued Ripple Labs, Inc. in December 2020, saying that the business had sold unregistered securities in the form of XRP, a digital currency that Ripple developed and disseminated. According to the SEC’s lawsuit, Ripple and its two co-founders, Christian Larsen and Brad Garlinghouse, raised more than $1.3 billion by selling XRP to retail investors without legally necessary registration as a security with the SEC.
XRP Relisted on Bitmart: Good News?
Trading activity for XRP on Bitmart, a significant cryptocurrency exchange, has already reached and beyond $600,000 just hours after it was reinstated. Bitmart reinstated XRP trading after delisting it in the summer of 2021 due to the legal dispute between Ripple and the SEC.
Such trade volumes on Bitmart immediately place the exchange in the top 20 of all centralized cryptocurrency platforms for XRP trading. There is only one trading pair, though, and it is currently against USDT.
Will Ripple win over the SEC?
Ripple has pledged to contest the action in court and has refuted the claims made in the SEC’s complaint. The matter is still pending, and it’s unclear how it will be handled just yet. However, Brad Garlinghouse often stated that he believes Ripple will prevail in the legal battle.
Ripple Lawsuit date: When will Ripple win?
Ripple was supposed to complete its legal issue with the SEC by Q4 2022. (or at the very least have a settlement in the works). The resolution, however, was delayed and now won’t be completed until 2023.
Analysts believe the case will be settled in the first quarter of 2023. The cost of XRP might soar if Ripple’s plans come to fruition. On the other hand, according to the most recent FTX outcomes, the FTT token was a security. This worried Ripple investors because it suggested that there may be a precedent in the Ripple case.
XRP Price Prediction 2023: How High can XRP reach?
XRP prices have been consolidating between 30 cents and 50 cents since mid-2022. Currently, XRP price is sitting around 33 cents. Analysts expect prices to rise slowly, before the lawsuit resolution towards 50 cents, then at least double to reach 1$ after the resolution. This should also coincide with the renewed uptrend of the crypto market.
However, it is important to keep a stop-loss trigger below 30 cents as prices might drop further in case the lawsuit went south.
Offer from CryptoTicker
Are you looking for a chart analysis tool that doesn’t distract you with community messages and other noise? Check out GoCharting! This is an easy-to-use online charting tool that requires no downloads or prior knowledge.
Click here to get a 10% discount on your first payment (monthly or yearly)!
CLICK THIS LINK TO TRADE XRP AT BITFINEX!
- Big News: Ripple Price is about to TRIPLE? This News Confirms…
- SEC vs. XRP: What Investors Need to Know
- Shiba Inu to Reach 1$ soon? This New Upcoming Development Proves it Right
- Analysts are LOVING XRP Gains! Will XRP price reach 1$ soon?
- Why is XRP Price up? SEC Lawsuit Resolution in sight?
- Ripple Price is about to SOAR HIGH! Here’s what’s new with the SEC…
- Shiba Inu Price Prediction: How High can SHIB Price reach by 2030?
- BIG XRP Price COMEBACK, Up 40% in 2 days – Is it safe to own XRP again?
- XRP Prediction: LAST CHANCE to Buy XRP below 40 cents!
- Top 3 reasons why XRP price should reach 1$: DO NOT MISS OUT!
- SHIB’s Burn Rate Soars: Can it Ignite a Price Rally in 2023?
- Ripple SEC update as of March 2023 – Things are looking positive?
- Ripple Price Prediction before 2023: More Consolidation on the way?
- Can Shiba Inu Price Reach 10 Cents?
- XRP Price BOOMS 70%! Will XRP reach 1 $ soon?
- How High will XRP Price reach after Ripple wins the SEC Lawsuit? XRP 3$?
- XRP Price Prediction: Can XRP Reach 2$ once the Lawsuit Is Officially Won?
- Ripple Price Prediction – How High will XRP reach in 2050?
- Ripple Lawsuit News: When will Ripple settle the SEC Lawsuit?
- Ripple SEC Update: is Ripple winning the Lawsuit?
- XRP Price is about to BOOM if the crypto market recovers! Buy $XRP?
You might also like
More from Altcoin
BREAKING NEWS: Binance.US suspends USD deposits and Fiat Withdrawal Channels
Let's take a look at this Binance.US suspends USD deposits and Fiat Withdrawal Channels news in more detail.
Will Cardano reach 0$ as the SEC Labels it a Security?
The SEC considers Cardano to be a security. Will Cardano reach 0$ as the SEC labels it as such? What …
3 Cryptos that Performed Terribly During the Current Crypto Crash
The cryptocurrency market has been a rollercoaster ride for investors, with dramatic price swings and unpredictable market movements. Recently, the …