The crypto market is abuzz with anticipations of an imminent settlement of the Ripple SEC case, potentially impacting the XRP price. While many remain optimistic about a possible surge in the token’s price following a favorable outcome, lawyer Bill Morgan sounded alarm.
Notably, Bill Morgan’s recent X post cautioned against the uncertainty surrounding the protracted Ripple SEC case and its impacts on XRP. Let’s analyze the XRP lawyer’s insights and the possible implications of the Ripple lawsuit on the token.
XRP Price on Pressure: Will Ripple SEC Case Trigger a Bear Trend?
Driven by the US Securities and Exchange Commission’s recent trend of dismissing crypto lawsuits, the community has been anticipating an early resolution in the Ripple SEC case. Experts and analysts forecast a favorable outcome for XRP’s price if Ripple emerges victorious in its legal battle with the SEC.
However, the uncertainty surrounding the Ripple SEC case outcome reportedly poses a major threat to the XRP price. XRP lawyer Bill Morgan highlighted that the prolonged Ripple lawsuit and its uncertain outcomes could have a negative impact on the token’s further price movements. Bill Morgan stated, “I increasingly wonder whether despite all the rumours of a settlement, the continuing uncertainty about the end or continuation of SEC v Ripple appeal will eventually increasingly exert a negative pressure on XRP price.”
Ripple Grows Despite SEC Lawsuit, Says Senior VP
Recently, Ripple’s Senior Vice President, Eric van Miltenburg, put forward a bold statement about the platform’s progress despite the ongoing lawsuit. As per his statements, Ripple has been establishing globally, unaffected by the SEC and its allegations.
According to Miltenburg, the Ripple SEC case is a “theatre” that has been settled behind closed doors. The VP’s words have been quite surprising for the community, especially considering the case’s complexity and the ongoing debates surrounding its potential conclusion.
Further, Miltenburg shed light on the increasing XRP adoption in the United States. He pointed out that the growing adoption and acceptance of the token showcases the lawsuit’s little impact. Though the regulator has been trying to classify XRP as a security, the Ripple VP believes that the token is a “geopolitical asset.”
XRP Lawsuit and Ongoing Debate
The XRP lawsuit has been a topic of intense discussion for years. The recent developments have further contributed to these speculations. With President Donald Trump’s re-election and the SEC’s increasingly progressive stance on crypto, many are anticipating an early settlement. However, experts are divided on the potential outcomes of the XRP lawsuit.
Some legal experts, like MetaLawMan and Jeremy Hogan, argue about a possible delay in the Ripple SEC case settlement. On the other hand, lawyer Fred Rispoli believes that an early conclusion is possible. The uncertainty surrounding the case’s outcome has sparked a range of predictions, from a potential settlement in March or April to a delayed judgment in July or August.
Will Ripple SEC Case Push XRP Price Down?
As of press time, XRP is valued at $2.28, down 2.19% in a day. The token experienced a notable surge of 9.47% over the past week but a monthly decline of 17%. The 24-hour trading volume of XRP has also plummeted by 12.5%, currently at $3.66 billion.
Despite the current negative trend and Bill Morgan’s bearish predictions, analysts remain bullish about XRP price’s future trajectory. For instance, analyst Good Morning Crypto projected XRP’s ascend during this spring. According to a recent report, a top expert has set a bold target of $100 for the XRP price in this bull rally.
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