- Ripple’s victory in the SEC lawsuit paves the way for XRP’s potential 500%+ surge.
- Crypto analyst predicts XRP’s price target of $3, indicating a bullish breakout.
- Ripple’s CEO expressed his gratitude and optimism
In a significant development for the cryptocurrency industry, Ripple has emerged victorious in its longstanding lawsuit with the Securities and Exchange Commission (SEC). This win is not just a triumph for Ripple, but it also sets a precedent for all crypto innovation in the United States.
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Ripple’s CEO, Brad Garlinghouse, expressed his gratitude and optimism in a recent tweet, “We said in Dec 2020 that we were on the right side of the law, and will be on the right side of history. Thankful to everyone who helped us get to today’s decision – one that is for all crypto innovation in the US. More to come.”
Ripple’s win has sparked optimism among investors and analysts alike. Renowned market analyst Dark Defender predicts an imminent 538% surge for XRP, Ripple’s associated digital asset. With an ambitious price target of $3, the projected surge would represent a staggering increase from the current trading levels.
Dark Defender’s analysis, grounded in the Elliott Waves theory and XRP’s historical pattern, suggests a consistent weekly pattern that hints at an imminent price surge. This pattern aligns with previous predictions by the analyst and reinforces the likelihood of a bullish breakout in the near term.
However, it’s not all smooth sailing. Dark Defender warns of potential consequences if XRP fails to defend the $0.46 territory. If the support at $0.46 fails, XRP could plummet to $0.39 in the coming days.
The favorable ruling in the SEC lawsuit has added weight to the top analyst’s latest projections. The presiding judge, Analisa Torres, ruled that secondary sales of XRP do not constitute a security. However, she also concluded that institutional sales of XRP constituted an unregistered security offering.
XRP becomes the first crypto to gain regulatory clarity in the United States. This has caused a spike in investor interest in XRP, causing a surge in the asset by over 30% within two hours.
Looking ahead, the future of Ripple Network in the crypto space seems promising. With the legal hurdles being cleared, Ripple can now focus on innovation and expansion. As for XRP, the future trading price looks positive, especially with the predicted surge. This victory could very well mark the beginning of a new era for Ripple and XRP.
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