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What does the future hold for XRP? Find out if the XRP Price will ever go up again amid the ongoing legal battle between Ripple and the SEC.
Is there a light at the end of the tunnel for Ripple Labs, and will XRP ever go up again, or is the SEC holding the off switch?
It’s the question on the XRP Army’s lips as parent company Ripple and the SEC lock horns in what looks to be the climax of their legal telenovela.
The SEC filed its final reply in the lawsuit, contesting Ripple’s defense and seeking injunctions to prevent future violations.
The CEO of Ripple Labs behind XRP, Brad Garlinghouse, recently stated, “2024 will be big.” So, is good news on the way?
“2024 Will Be Big” – Will XRP Ever Go Up Again With The SEC?
May 13, mark that date. This is when omnibus letter motions related to sealing materials for the remedies briefs and associated documents for the XRP legal case are due.
In non-nerd legal speak, this means that Ripple and the SEC will have a chance to present their final arguments and any materials before making a decision on whether XRP can ever go up again.
The SEC is absolutely absurd and criminal at this point. pic.twitter.com/L2eLBfL3ac
— James Rule XRP 👊😎 (@RuleXRP) May 7, 2024
The SEC accuses Ripple of misleadingly interpreting legal guidance and the court’s orders regarding XRP sales restructuring. Once again, in non-nerd non-legalize: XRP is a centralized security – and acts as such.
Ripple’s legal chief, Stuart Alderoty, expressed concerns over the SEC’s filing approach but remains hopeful for a resolution. The SEC’s actions are seen as straying from global norms.
The Ripple Army is on edge to see if XRP will ever go up again as key dates approach, with redacted versions of the SEC’s filings expected to be made public soon.
Ripple supporters and analysts eagerly await a judgment, speculated to arrive around September, which could have significant implications for XRP’s future price.
DISCOVER: The BEST Way to Accumulate XRP In May 2024
XRP Price Prediction: Will XRP Ever Go Up Again?
The ongoing legal battle has spotlighted Ripple’s market performance.
XRP, ranked seventh by market capitalization, has decreased by 15% in the past month, yet it currently resides in a pivotal position poised for a potential breakout.
This all comes after Ripple announced a new stablecoin for their ecosystem, further bolstering positive sentiment.
(XRPUSDT)
XRP prices are squeezing between the 20-day MA support and the longer-term bearish trend from the 200-day MA.
The RSI’s hinting at slight oversold territory, hovering around 63.78, but not quite anything to worry about.
The chart doesn’t clearly display classic patterns like a “head and shoulders.” However, the volatility near the moving averages and price consolidation could hint at an accumulation phase before a breakout if price catches a bounce.
If the SEC makes a favorable decision—a not entirely likely prospect – we might see a $2 XRP by 2025.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
