XRP coin is currently following a bullish pattern as the sentiment of the crypto bull run is rapidly increasing day by day.
Ripple, a San Francisco headquartered blockchain firm, utilizes XRP coin as its primary tool for providing cross-border payment services without impacting the natural trade price of XRP coin. Since December 2021, Ripple has been engaged in a legal conflict with the United States Securities and Exchange Commission (SEC). However, the legal battle between Ripple and the SEC is now reaching its end phase.
In the previous crypto bull run in 2021, XRP coin failed to meet the expectations of crypto investors. Some individuals anticipated XRP to reach $10, but the coin fell short due to the Ripple vs SEC conflict (XRP lawsuit).
The entire legal battle revolved around the classification of the XRP coin as an unregistered security offering under the jurisdiction of the SEC.
However, it has now been ruled by the court judge that XRP coin is not a security token. Consequently, crypto traders are now free to invest in this cryptocurrency as XRP is no longer embroiled in any legal conflicts.
All market sentiments and factors indicate that the market is transitioning towards a bullish phase, and people expect a significant surge in cryptocurrency prices in early 2024.
Some individuals anticipate that XRP will experience a larger rally compared to other cryptocurrencies in the upcoming bull run due to its previous inability to attract investment flows caused by the SEC’s actions.
During that time, all American crypto exchanges delisted XRP coins following the SEC’s lawsuit, preventing American investors from investing in XRP coins.
However, XRP coin was relisted by the majority of American crypto exchanges a couple of months ago due to the court ruling in favor of Ripple and the clear nature of XRP coin. Thus, there are significant chances that XRP will reach $10.
The current trade price of XRP coin is $0.711, which is 24% higher than the trade price of the previous 7 days.
Notably, the entire XRP lawsuit is not yet over. Nevertheless, some individuals claim that Ripple and the SEC will settle the case with a 50-50 victory. However, pro-XRP crypto attorney John Deaton expressed his opinion on the XRP lawsuit analysis, stating that it will be a 90-10 win for Ripple.
“The people who’ve argued that the SEC got a 50-50 victory in the @Ripple case are 💯 wrong. It was more like 90-10 in Ripple’s favor. If Ripple ends up paying $20M or less, it’s a 99.9% legal victory.”
– John E Deaton (@JohnEDeaton1) November 4, 2023
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