2024-5-4 21:45 |
The legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) has been a long and arduous one, with both sides presenting their arguments in court. As the case nears its conclusion, many in the XRP community are speculating about the potential impact a favorable ruling for Ripple could have on the price of the digital asset.
Attorney Jeremy Hogan, known for his commentary on the Ripple case, has suggested that if the judge rules that Ripple can pay an affordable amount, it would constitute a win for the company. This has led some XRP holders, like Luke Thomas, to express hope that a victory against the SEC could prompt a significant price surge for the cryptocurrency.
Thomas, who claims to have held XRP since 2017 without selling a single token, expressed optimism that Ripple’s legal team can “cross the finish line” after nearly four years of battling the SEC. He speculates that Ripple may be required to pay a settlement ranging from $100 million to $800 million, which could pave the way for a positive outcome for long-term XRP holders like himself.
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Show more +Show less – Reasons XRP Might Never Deliver a Substantial ROIHowever, not everyone shares the same level of enthusiasm regarding XRP’s potential for a meaningful return on investment (ROI) from its current price levels. A user going by the name “TheRealist” questioned the top three reasons why XRP might never deliver a substantial ROI.
TheRealist cited several factors that could potentially hinder XRP’s price appreciation, including the founders’ alleged sale of enormous amounts of XRP for years with little consideration for holders, the ongoing SEC case dampening performance, and concerns over XRP’s utility.
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Addressing these points, TheRealist explained that while the chart may show a downward trend, it does not necessarily mean the price cannot recover. But beyond the charts and Ripple’s win against the SEC, there are other reasons the price will remain down in the long term. The reasons cited were: Extreme greed exhibited by the founders through massive XRP sales without regard for holders and doubts surrounding XRP’s utility.
XRP Price Continues ConsolidationAfter a prolonged slump, XRP’s price has started to recover over the past three days, following the upward trend of many other cryptocurrencies. However, it is worth noting that XRP’s price movements tend to be more subdued compared to the broader market, with less pronounced dips and rallies.
Currently, market participants may not anticipate significant price appreciation for XRP until the SEC lawsuit is resolved. A favorable outcome for Ripple could potentially attract more trading volume and encourage new investors to purchase the token, potentially driving up its value.
A Potential 30% Price Move to Exploit:
Throughout 2024, XRP’s price has been consolidating between $0.49 and $0.65. With the market currently trading around the lower end of this range at $0.52, we expect a potential rally to above $0.60, where resistance could be encountered. This represents a potential 30% price move that traders may look to capitalize on.
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The post Why Ripple May Never Deliver Substantial Profit Despite a Win Against SEC: XRP Bulls Eye This 30% Short-Term Move appeared first on CaptainAltcoin.
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