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Those who have best expectations about Ripple (XRP) want it to touch $5 in 2022. In the global payment network, XRP has been providing for a robust utility. Despite its unbeatable utility the price of XRP is going down due to the SEC issue.
The SEC developed a sore eye on the ultra-efficient international payment system facilitated by Ripple. Subsequently, charged Ripple officials for having conducted $1.3 billion in trades in unregistered securities. Following the law suit, several cryptocurrency exchanges stopped offering trading services for XRP the price which was trading at 0.69 during November, 2020 plunged all the way down to $0.18 per token at the end of year 2020.
The SEC alleges that XRP should be subject to the rules and regulations of traditional securities like stocks, bonds or options contracts. However, Ripple lawyers have to state that traditional securities rules and regulations should be applied to Bitcoin, which acts as a store of value – but it is not applicable to XRP.
The facts and arguments in the case so far are not in favor of the SEC and it is not likely for the SEC to win in their stance. An exponential increase in the price of XRP is not going to happen very soon; however, it is very much possible as the legal drama might not end very soon. Things are going to be favorable for XRP; however, official confirmations might take years and those who will choose to hold (might anger some frustrated holders though) their modest collection of XRP will benefit.
The judicial process is slow moving, but the progress is good.
Those who are well versed in the cryptocurrency trading space have to state that it does not matter if crypto crashes to zero or if the price trends to record highs. Those who benefit are those who cash out profits. So, those who know how to profit from bearish and bullish trends will benefit. There are strategic players who know how to stay profitable irrespective of whether the price trends high or low.
The price of XRP is rallying and it will be up by 7% during that period. At the time of reporting the price of XRP has been trading at 0.7768.
Meanwhile, James K. Filan, Defense lawyer, former federal prosecutor expressed, “Ripple has filed its response to the SEC’s Notice of Supplemental Authority regarding the SEC’s Motion to Strike the Fair Notice Defense.”
Community Reaction: Does this mean the case will probably be dragged out for another 3/4 months? Case will be dragged for another 2 to 3 years.
Even when ISO20022 kicks off this year and Ripple is a ISO20022 company linked to most major banks, ECB, World Economic Forum and Finastra? I think it settles this year, but I could be wrong. Why would it be on the World Economic forum website if it was such a scam company?
ISO20022 has nothing to do with Ripple or XRP. I don’t know why people keep trying to connect the two.
Hub: XRP price, news, and analysis
